In a significant development, the Board of Control for Cricket in India (BCCI), renowned as the country's wealthiest sports association and the most affluent body in cricket, demonstrated its financial prowess by contributing a substantial income tax amount of Rs 1,159 crore during the 2021-22 fiscal year. This remarkable figure showcases a remarkable 37% surge when compared to the preceding year.
Minister of State for Finance Pankaj Chaudhary provided detailed insights into BCCI's income tax payments, as well as its income and expenditure trends over the last five years, based on the returns filed. This comprehensive information was presented in a written response to a question posed in the esteemed Rajya Sabha.
BCCI paid 1,159 crores income tax in 2021-22 which is 37% higher than 2020-21. pic.twitter.com/3YkBws22NB
— Johns. (@CricCrazyJohns) August 8, 2023
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Navigating Challenges: The Impact of COVID-19 and Financial Resilience
BCCI's journey of financial resilience and fluctuations is evident in its recent history. The organization faced a temporary setback in the 2019-20 fiscal year, where a dip in its income tax payment was observed. This decline can be attributed to the disruptive effects of the COVID-19 pandemic, which led to the suspension of cricket activities for several months. Once the game resumed, the implementation of bio-bubbles necessitated increased expenditure, thereby impacting BCCI's overall financial health.
A Closer Look at BCCI's Financial Performance
Highlighting BCCI's financial trajectory over the last few years, we see that in the fiscal year 2020-21, the organization paid Rs 844.92 crore in income tax, presenting a decrease from the Rs 882.29 crore paid in the preceding year (2019-20). However, in the fiscal year 2019, BCCI's tax payment surged to Rs 815.08 crore, signifying a substantial increase from the Rs 596.63 crore paid in 2017-18.
Insights into Revenue and Expenditure
Delving into the specifics of BCCI's financial performance, the 2021-22 fiscal year saw the organization achieve a commendable revenue of Rs 7,606 crore. Simultaneously, its expenditure amounted to nearly Rs 3,064 crore. Similarly, in the preceding fiscal year (2020-21), BCCI reported a revenue of Rs 4,735 crore, with expenditure reaching Rs 3,080 crore.
