Feature
Jaitley introduces note ban bill in Lok Sabha amid TMC opposition
New Delhi: Finance Minister Arun Jaitley on Friday introduced a bill on demonetisation in the Lok Sabha to formally make the banning of Rs 500 and Rs 1,000 notes a law. The Specified Bank Notes (Cessation of Liabilities) Bill, 2017, seeks to replace the ordinance on demonetisation promulgated by the government in December 2016. As the Finance Minister stood up to introduce the bill, he was opposed by Trinamool Congress member Saugata Roy, who termed the bill “illegal”. A war of words was witnessed in the House as Jaitley and the Trinamool Congress leader attacked each other over the issue.
Roy said he was questioning Jaitley’s “right to speak”, adding “Let him go to the Rajya Sabha and speak”. In response, the Minister questioned the member’s right to oppose the bill and said: “His objection is something other than legislative competence. His objection is this is not a good bill.” An angry Roy said: “He (Jaitley) is not even a member of this house. He is not aware of the rules of the house.” Parliamentary Affairs Minister Ananth Kumar defended Jaitley and said: “He (Jaitley) has been a distinguished parliamentarian, and has also been adjudged best parliamentarian. He is well within his knowledge of both houses.”
Roy then said the question of legislative competence will arise later and that any member has the right to object to introduction of a bill. “This bill is actually illegal because the basic statement by the Prime Minister (on demonetisation), without any notification on November 8 was illegal. No reference was made to the Parliament…” Roy said. “The Reserve Bank writes on currency notes ‘I promise to pay the bearer…’ The notification (on demonetisation) should have been given by the Reserve Bank of India… I think it is outside the minister’s competence, and legislative competence to bring this bill,” the Trinamool member continued.
“This bill and the ordinance are illegal. The government has imposed a disruptive step on the whole country’s economy. I am told even the Finance Minister did not know about the demonetisation move till the evening before. I oppose introduction of this bill,” Roy said. Jaitley however said the member was wrong on several accounts. “A bill can be opposed only on two grounds – One that the House does not have legislative competence or it is unconstitutional. His objection is not on either ground,” Jaitley said. He added that the government was well within its right in bringing in demonetisation.
“The November 8 notification was under Section 26-2… RBI had the competence to pass the order,” Jaitley said. He also took a dig at the Trinamool Congress member and said: “It will add to his long parliamentary experience; He will get to learn.” Roy’s objection was overruled by Speaker Sumitra Mahajan, and the bill was then introduced in the lower house.
The State Scores Extra High on Gaming-Friendly Industry Index
Meghalaya scored 92.85 out of 100 possible points in a Gaming Industry Index and proved to be India’s most gaming-friendly state following its recent profound legislation changes over the field allowing land-based and online gaming, including games of chance, under a licensing regime.
The index by the UK India Business Council (UKIBC) uses a scale of 0 to 100 to measure the level of legalisation on gambling and betting achieved by a state based on the scores over a set of seven different games – lottery, horse racing, betting on sports, poker, rummy, casino and fantasy sports
Starting from February last year, Meghalaya became the third state in India’s northeast to legalise gambling and betting after Sikkim and Nagaland. After consultations with the UKIBC, the state proceeded with the adoption of the Meghalaya Regulation of Gaming Act, 2021 and the nullification of the Meghalaya Prevention of Gambling Act, 1970. Subsequently in December, the Meghalaya Regulation of Gaming Rules, 2021 were notified and came into force.
All for the Tourists
The move to legalise and license various forms of offline and online betting and gambling in Meghalaya is aimed at boosting tourism and creating jobs, and altogether raising taxation revenues for the northeastern state. At the same time, the opportunities to bet and gamble legally will be reserved only for tourists and visitors.
“We came out with a Gaming Act and subsequently framed the Regulation of Gaming Rules, 2021. The government will accordingly issue licenses to operate games of skill and chance, both online and offline,” said James P. K. Sangma, Meghalaya State Law and Taxation Minister speaking in the capital city of Shillong. “But the legalized gambling and gaming will only be for tourists and not residents of Meghalaya,” he continued.
To be allowed to play, tourists and people visiting the state for work or business purposes will have to prove their non-resident status by presenting appropriate documents, in a process similar to a bank KYC (Know Your Customer) procedure.
Meghalaya Reaches Out to a Vast Market
With 140 millions of people in India estimated to bet regularly on sports, and a total of 370 million desi bettors around prominent sporting events, as per data from one of the latest reports by Esse N Videri, Meghalaya is set to reach out and take a piece of a vast market.
Estimates on the financial value of India’s sports betting market, combined across all types of offline channels and online sports and cricket predictions and betting platforms, speak about amounts between $130 and $150 billion (roughly between ₹9.7 and ₹11.5 lakh crore).
Andhra Pradesh, Telangana and Delhi are shown to deliver the highest number of bettors and Meghalaya can count on substantial tourists flow from their betting circles. The sports betting communities of Karnataka, Maharashtra, Uttar Pradesh and Haryana are also not to be underestimated.
Among the sports, cricket is most popular, registering 68 percent of the total bet count analyzed by Esse N Videri. Football takes second position with 11 percent of the bets, followed by betting on FIFA at 7 percent and on eCricket at 5 percent. The last position in the Top 5 of popular sports for betting in India is taken by tennis with 3 percent of the bet count.
Local Citizens will Still have Their Teer Betting
Meghalaya residents will still be permitted to participate in teer betting over arrow-shooting results. Teer is a traditional method of gambling, somewhat similar to a lottery draw, and held under the rules of the Meghalaya Regulation of the Game of Arrow Shooting and the Sale of Teer Tickets Act, 2018.
Teer includes bettors wagering on the number of arrows that reach the target which is placed about 50 meters away from a team of 20 archers positioned in a semicircle.
The archers shoot volleys of arrows at the target for ten minutes, and players place their bets choosing a number between 0 and 99 trying to guess the last two digits of the number of arrows that successfully pierce the target.
If, for example, the number of hits is 256, anyone who has bet on 56 wins an amount eight times bigger than their wager.
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