Real money gaming industry estimated at Rs 1.6 lakh crore, says IT-BT Minister Priyank Kharge

According to the Government’s estimations for 2024-2028, TDS was pegged at Rs 7,000 crore annually, while the GST collection was pegged at Rs 74,000 crores.

By  Storyboard18Feb 16, 2024 7:00 PM
Real money gaming industry estimated at Rs 1.6 lakh crore, says IT-BT Minister Priyank Kharge
Gangadharaiah Parameshwara added that the state had its commitment in place to protect its youth by discouraging them from betting, gambling or taking drugs. (Representative Image: Jack Hamilton via Unsplash)

Gangadharaiah Parameshwara, Karnataka’s home minister stated that the government would explore every possible way to frame laws which regulated betting and curbed online gambling apps in the state.

He took part in a discussion at the Legislative Assembly and highlighted how cricket betting was ruining families in the state, stated a media report.

Parameshwara added that the state had its commitment in place to protect its youth by discouraging them from betting, gambling or taking drugs. “The state alone cannot ban betting or online gaming as it needs a strong support of the Centre as most of the online games are operated from different parts of the country and world. So, we need a comprehensive policy and it should be initiated from the centre," he said.

IT-BT Minister Priyank Kharge said that the real money gaming sector is estimated to be an industry worth Rs 1.6 lakh crore in the country and according to the Union government’s projected estimations for 2024-28, TDS alone is pegged at Rs 7,000 crore annually while GST collection is pegged at Rs 74,000 crore.

First Published on Feb 16, 2024 7:00 PM

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