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

More from Storyboard18

How it Works

ED finds no evidence against EaseMyTrip in Mahadev Betting App probe

ED finds no evidence against EaseMyTrip in Mahadev Betting App probe

Brand Makers

Ahead of IPO, Flipkart discontinues work-from-home policy, mandates 5-day office attendance

Ahead of IPO, Flipkart discontinues work-from-home policy, mandates 5-day office attendance

How it Works

Discretionary spends dip as rural India tightens purse strings: GroupM-Kantar Rural Barometer 2025

Discretionary spends dip as rural India tightens purse strings: GroupM-Kantar Rural Barometer 2025

How it Works

Wipro adds 10,000 freshers in FY25, remains cautious on wage hikes amid global uncertainity

Wipro adds 10,000 freshers in FY25, remains cautious on wage hikes amid global uncertainity

How it Works

No direct, indirect association with Mahadev Betting App: EaseMyTrip issues statement amid ED raids

No direct, indirect association with Mahadev Betting App: EaseMyTrip issues statement amid ED raids

How it Works

NCLAT allows Google to redact confidential data from play store billing judgment

NCLAT allows Google to redact confidential data from play store billing judgment

How it Works

Anti-trust watchdog fines UFO Moviez, Qube Cinema Rs 2.69 cr for anti-competitive practices

Anti-trust watchdog fines UFO Moviez, Qube Cinema Rs 2.69 cr for anti-competitive practices

How it Works

CTV's grip tightens on ad spends; brands see a 'lean-in opportunity'

CTV's grip tightens on ad spends; brands see a 'lean-in opportunity'