The Board of Control for Cricket in India has registered a deficit of Rs 2.36 crore during 2002-03 compared to a surplus of Rs 29.71 crore achieved during the previous year.
The deficit occurred due to a 14.23 per cent drop in income and a 35 per cent jump in expenditure during 2002-03 compared to the previous fiscal.
The total earnings of the Board declined to Rs 73.15 crore in 2002-03 from an income of Rs 85.30 crore in 2001-02, mainly due to significant fall in surplus from tours and interest income, according to the annual report of the Board.
Surplus from tours declined by Rs 13.91 crore while interest income fell by Rs 1.5 crore during the year. The income from sale of TV rights, however, stood at the previous year's level of Rs 4.6 crore.
The expenditure, on the other hand, shot up by 35 per cent to Rs 75.52 crore over Rs 55.59 crore incurred in the previous year.
Barring the committee meeting expenses, all major components like expenditure on cricketing activities and coaching expenses witnessed a hefty rise along with a new component of Rs 5.8 crore ICC annual subscriptions.
Owing to the deficit incurred during the year, the balance carried forward to general fund decreased to Rs 13.43 crore from last year's Rs 33.50 crore.
The closing balance for the year - a sum of Rs 101.96 crore closing balance of 2001-2 and Rs 13.43 crore balance carried forward to general fund in 2002-3 - stood at Rs 115.39 crore.
