Feature
UP Budget 2016: Lucknow Metro gets Rs.814 crore, VAT increased by 10%
Lucknow: Ahead of assembly elections in Uttar Pradesh early next year, Uttar Pradesh Chief Minister Akhilesh Yadav presented the biggest-ever budget of Rs. 3.46 lakh crore for 2016-17 today.
In the fifth budget presented in the last financial year, Akhilesh focused on innovation, infrastructure, health and education.
The fifth budget presented by Akhilesh Yadav, who holds the finance portfolio, would also be his last in this tenure as assembly elections in the state are scheduled for next year. It was 14.56 percent from the Rs 3.02 lakh crore budget he presented in the last financial year.
The budget has recommended ten percent increase in value added tax (VAT) and the same increase in excise tax, while Rs.2.50 crore has also been earmarked for the farmer accidental insurance scheme.
The chief minister presented a Rs.27,758 crore supplementary budget in which farmers and the power sector were major beneficiaries. An amount of Rs.814 crore has been given for the Lucknow Metro Rail project while Rs.100 crore has been allocated to the hyped, and now-shelved, scheme of free laptop distribution to class 12 students.
An amount of Rs.2,057 crore has been marked for the drought relief measures in the 50 drought-hit districts of the state and the special needs fund for Bundelkhand has been increased from Rs.71.50 crore to Rs.200 crore.
Payment of Rs.1,336 crore has been allocated for cane arrears while the Agra-Lucknow expressway has been given Rs.4,003 crore. Rs.11 crore has also been allotted for improving traffic systems in 12 cities.
The chief minister, who presented the budget amid disruptions and slogan-shouting by the opposition legislators of the Bahujan Samaj Party (BSP), Bharatiya Janata Party (BJP) and the Congress, later said that he can proudly say that all promises made by the Samajwadi Party (SP)during the 2012 state assembly polls have been fulfilled.
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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