Delhi: As the ODI cricket scandal settles, it is reported that the central exchequer is losing two lakh crore rupees in tax annually due to illegal betting transactions.
According to the report of the independent organization “Think Change Forum” (TCF), which was formed to find a solution to the crises in the post-Covid world, transactions worth 8.20 lakh crore rupees are done annually through betting in Indian sports.
The report points to the development of digital infrastructure, the widespread use of smartphones and the boom in athletics as factors that encourage betting.
The country’s betting/gambling market is doing huge taxes under the watchful eye of all the financial regulatory agencies of the government. 8.20 lakh crore transactions at 28% GST. According to the rate, the loss to the government exchequer is Rs 2,29,600 crore. To prevent this, GST The report recommends strict monitoring by the department and mandatory registration of foreign gaming companies to operate in India.
The popularity of the Indian Premier League (IPL) in India, where cricket is a national sensation, has also led to the growth of the betting lobby. An average of 14 crore people regularly engage in betting in India.
IPL It jumps to 37 crores in the season. Due to the ban on betting and gambling, billions of dollars flow into the country and abroad as black money. Hawala and cryptocurrency transactions are important in this. This affects the economic stability of the country itself. Such illegal financial transactions pose a threat to the security and peace of the country.
There are over 75 betting/gambling online platforms operating in the Indian market. TCF said that they are making Bollywood and sports stars as brand ambassadors to attract more people. The report points out.
2023-10-19 19:37:20
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