Unlike Delhi CWG, London Olympics well within budget

On October 23, the UK Government's Department for Culture Media and Sports revealed that the 2012 London Olympics , already acknowledged as one of the best, was not only within budget, it also saved 377 million pound sterling.

The cost of conducting the Games worked out to 8.92 billion pounds ($14.30 billion) as against the budget of 9.3 billion pounds. This was despite incurring higher operational costs, particularly on security for the various games venues.

The savings came out of the efforts of the Olympic development Authority (ODA), the UK government funded body responsible for building the venues and infrastructure. It spent 6.71 billion pounds on the Games, saving a billion pounds from its original budget.

In comparison, the 2010 Commonwealth Games in New Delhi were a disaster. Back in 2003, it was estimated that the total cost of upgrading stadia and building other infrastructure, such as roads and public utilities, would come to $ 500 million.

The organisers ended up spending close to $4.6 billion - nine times the original estimate. This does not include the new airport terminal (T3) in New Delhi, which cost $ 2.7 billion.

With a total cost of around $ 7.5 billion, the 2010 event in New Delhi was the costliest ever Commonwealth Games. India ended up spending almost half of what the UK spent on the London Olympics ($14.3 billion) for what is really a minor sporting event on the global arena.

Not only were the games over budget, the charges of rampant corruption that followed harmed the country's image and global standing.

There is a lot that India can learn from the organisers of London Olympics. These lessons are crucial, especially considering that the central government has often indicated its desire to host the Olympics in India.

Even as you read this article, the London Olympics organisers are busy removing temporary venues and retro fitting the Olympic Village to create new community facilities, including 2,800 homes. These efforts are transforming London's East End, which, for centuries has been one of the most backward sections of the UK's capital.