{"id":202752,"date":"2022-08-30T20:26:05","date_gmt":"2022-08-30T14:56:05","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=202752"},"modified":"2022-08-30T20:26:05","modified_gmt":"2022-08-30T14:56:05","slug":"online-gaming-needs-a-synchronized-policy-framework","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/online-gaming-needs-a-synchronized-policy-framework\/","title":{"rendered":"Online gaming needs a synchronized policy framework"},"content":{"rendered":"\n

Source<\/strong>: The post is based on an article\u00a0\u201cOnline gaming needs a synchronized policy framework\u201d\u00a0published in\u00a0The Live Mint<\/strong>\u00a0on\u00a030th<\/sup>\u00a0August 2022<\/strong>.<\/p>\n

Syllabus: GS 2 \u2013 Government policies for various sectors<\/strong><\/p>\n

Relevance:\u00a0benefits and challenges associated with online gaming<\/strong><\/p>\n

News: This article discusses the issues associated the online gaming and its economic benefit to India.<\/strong><\/p>\n

What is the current situation of online gaming in India?<\/strong><\/h5>\n

1) This industry is valued at about $2 billion currently and is expected to reach $5 billion by 2025.<\/p>\n

2) Foreign investors have invested more than $1.6 billion in just the last 18 months.<\/p>\n

3) Industry estimates suggest that the industry provides 50,000 jobs directly and many more jobs indirectly.<\/p>\n

4) The Union ministry of electronics and information technology has been holding consultations to bring in positive and comprehensive regulations for online gaming.<\/p>\n

5) Our Prime Minister called for making games in India and gave slogan of \u2018Create in India\u2019 and \u2018Brand India\u2019.<\/p>\n

What are the problems associated with online gaming?<\/strong><\/h5>\n

Indian online gaming firms are facing difficult problems, like<\/p>\n

First, the group of ministers (GoM) suggested a crippling goods and services (GST) regime on casinos, horse racing and online gaming.<\/p>\n

The GST structure is such that players will pay GST not only for the service provided to them but also for their own money that goes into creating prize pools.<\/p>\n

Reports suggest that this situation has arisen as the GoM may have equated games of skill with gambling for taxation purposes.<\/p>\n

What is the difference between online gaming and gambling?<\/strong><\/h5>\n

Supreme Court and various high courts have held that games that have a predominance of skill<\/strong> involved in their outcomes are classified as games of skill, while games based on the predominance of chance<\/strong> are gambling.<\/p>\n

Online games of skill are protected under the Constitution while gambling is outlawed in most states.<\/p>\n

To avoid such confusion, the central government has thought to bring uniform regulations for online gaming.<\/p>\n

What can be the further course of action?<\/strong><\/p>\n

This industry needs a rational and synchronized framework under which our tax policy is consistent with a positive vision for online gaming.<\/p>\n

There must be a convergence of government policies across domains to support and incubate any new and innovative industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on an article\u00a0\u201cOnline gaming needs a synchronized policy framework\u201d\u00a0published in\u00a0The Live Mint\u00a0on\u00a030th\u00a0August 2022. Syllabus: GS 2 \u2013 Government policies for various sectors Relevance:\u00a0benefits and challenges associated with online gaming News: This article discusses the issues associated the online gaming and its economic benefit to India. What is the current situation… Continue reading Online gaming needs a synchronized policy framework<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10501],"class_list":["post-202752","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/202752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=202752"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/202752\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=202752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=202752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=202752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}