“It (the rise in costs) isn’t an issue only India is dealing with; London (which hosts the 2012 Olympic Games) is also witnessing an increase in expenditure. The final cost of Beijing Games far exceeded the initial estimate and crossed the 40-billion dollar mark,” said the minister.

“Now that we have committed ourselves to it, we have to make sure the event is staged successfully. The government is ready to increase the budget, if need be,” he added.

No reckless spending
However, Gill warned it didn’t mean reckless spending and the money would only be released after closely examining the proposals.

“The finance committee would look into it and only after that a final decision would be taken,” said the minister after reviewing renovation work at the Indira Gandhi Indoor Stadium here on Tuesday.

The complex, which will house a gymnastic hall including a warm-up hall, a wrestling stadium and a cycling velodrome, is being renovated at an estimated cost of Rs 680 crore.

“I am confident the gymnastic and wrestling stadia will be ready by December. The deadline for the cycling velodrome (the work for which has started rather late) is March 2010, but I’ve asked them to complete it by the end of this year,” he said.

Reacting to reports that Australia was ready to host the Games in case India didn’t, Gill shot back, saying, “Who’s asked them? We don’t need the favour, we can do it.”

Medals important
Meanwhile, Gill said organising the event was just half the job and equally important was to win more medals. For that he urged the corporate sector to “adopt” various sports.