THIRUVANANTHAPURAM: The training programme for lottery winners, an announcement in the 2021-22 budget, is set to become a reality, finally. The Gulati Institute of Finance and Taxation (GIFT) has completed the design of the programme, it is learnt.
Sources said it would be a one-day orientation programme focussing on prudent spending and safe investment options. “The programme is for people who win big prizes. Different investment options like mutual funds, insurance plans, pension schemes, and fixed deposits will be introduced to them. They will be educated on loan repayments as well. Basically, it will be an awareness programme,” said an officer.
“All the sessions will be handled by experts, including one faculty member of the GIFT and experts from different fields,” the officer added. Participants will be offered one-to-one sessions in areas in which they require more information. The programme will be limited to big prize winners, most probably Rs 10 lakh and above.
Meanwhile, the lotteries department is waiting for necessary sanctions from the taxes and finance departments to launch the programme. As it is a new programme, the lotteries department cannot utilise its funds without getting prior sanction from the finance department.
Finance Minister K N Balagopal’s budget announcement on the training programme was welcomed by many. There were media reports on people losing all their money through non-judicious spending. The winner of the Thiruvonam Bumper first prize Rs 25 crore, the biggest prize money on a single ticket in the country’s history, had also called for such a programme.
The lotteries department conducts weekly lotteries and bumper flicks on special occasions like Onam or Christmas- New Year. The first prize of weekly lotteries ranges between Rs 70 lakh and Rs 1 crore.