The 53rd Goods and Services Tax (GST) Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for Saturday. The meeting will discuss crucial topics like GST rates on fertilizers, online gaming, and telecom, along with potential amendments to the GST law regarding Extra Neutral Alcohol and corporate guarantees.
The National Democratic Alliance (NDA) government has implemented various reforms over the past decade, with some yielding significant results while others have faced challenges. Notable policies include Pradhan Mantri Jan Dhan Yojana (PMJDY) for financial inclusion, Pradhan Mantri Awas Yojana (PMAY) for affordable housing, demonetization to combat black money, the Goods and Services Tax (GST) framework, Ayushman Bharat for healthcare, corporate tax cuts to boost investment, and Pradhan Mantri Garib Kalyan Anna Yojana for food security.
The Indian government’s recent support for the gaming industry has raised concerns about its potential negative impact on society. Despite acknowledging the ill effects of gaming, including addiction and violence, Prime Minister Narendra Modi has stated that the industry should remain unregulated. This stance contradicts his previous promotion of a healthy lifestyle and concerns about the decline in physical activity due to technology. The gaming industry has become a lucrative source of revenue for the government, with online gambling platforms expected to contribute $1.7 billion in GST in the upcoming fiscal year. Political parties have also received significant donations from gaming and gambling companies, which may have influenced Modi’s change in attitude. With a large population of young voters actively involved in gaming, politicians are unlikely to ignore such a vast voter base. However, the consequences of promoting gaming may be detrimental to the future of India, as it diverts attention from crucial issues such as unemployment, inflation, education, and farm income.
