In a considerable advancement, the Board of Control for Cricket in India (BCCI), renowned as the nation’s most affluent sports association and the most upscale body in cricket, showed its monetary expertise by contributing a considerable earnings tax quantity of Rs 1,159 crore throughout the 2021-22. This exceptional figure showcases an impressive 37% rise when compared to the preceding year.
Minister of State for Finance Pankaj Chaudhary offered comprehensive insights into BCCI’s earnings tax payments, along with its earnings and expense patterns over the last 5 years, based upon the returns submitted. This detailed info existed in a written reaction to a concern postured in the respected Rajya Sabha.
BCCI paid 1,159 crores earnings tax in 2021-22 which is 37% greater than 2020-21. pic.twitter.com/3YkBws22NB
— Johns. (@CricCrazyJohns) August 8, 2023
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Browsing Challenges: The Impact of COVID-19 and Financial Resilience
BCCI’s journey of monetary durability and variations appears in its current history. The company dealt with a momentary problem in the 2019-20 , where a dip in its earnings tax payment was observed. This decrease can be credited to the disruptive impacts of the COVID-19 pandemic, which caused the suspension of cricket activities for numerous months. As soon as the video game resumed, the application of bio-bubbles required increased expense, therefore affecting BCCI’s total monetary health.
A Closer Look at BCCI’s Financial Performance
Highlighting BCCI’s monetary trajectory over the last couple of years, we see that in the 2020-21, the company paid Rs 844.92 crore in earnings tax, providing a decline from the Rs 882.29 crore paid in the preceding year (2019-20). In the financial year 2019, BCCI’s tax payment rose to Rs 815.08 crore, symbolizing a considerable boost from the Rs 596.63 crore paid in 2017-18.
Insights into Revenue and Expenditure
Looking into the specifics of BCCI’s monetary efficiency, the 2021-22 saw the company attain a good income of Rs 7,606 crore. At the same time, its expense totaled up to almost Rs 3,064 crore. In the preceding financial year (2020-21), BCCI reported an income of Rs 4,735 crore, with expense reaching Rs 3,080 crore.