Book launched on Telangana's steel prowess
The book, written by Dr Sriperambudur Jaikishan, was released at a programme held at the Telugu University Auditorium in Nampally. The programme was organised by the National Vishwakarma Employees and Professionals Association under National President of the Association A Padma Chary.
Madhusudhana Chary said that this book, prepared with evidence, would serve as a good research book that Telangana, which had a rich cultural and historical history, also produces high-quality steel.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
9 hours ago
- Indian Express
Ban on real money games, penalties for endorsements, warrantless searches: What India's gaming Bill says
India's government is preparing to take aim at the lucrative yet controversial world of real-money online gaming, with a new Bill that could see sweeping bans and harsh penalties for both platforms and their celebrity promoters. The move—framed as a response to mounting national security worries and social harms—is a striking reversal from previous pro-industry overtures. At the heart of the proposed law are blanket prohibitions on online money games, multi-crore fines and potential jail sentences, as officials attempt to rein in an industry increasingly accused of fuelling money laundering, addiction and law evasion, even as it hurtles towards a projected $9 billion market by 2029. The Promotion and Regulation of Online Gaming Bill, 2025, which was shared with Members of Parliament late Tuesday night and is expected to be introduced in Parliament Wednesday, has been drafted over national security concerns related to online gaming platforms, including the use of digital wallets and cryptocurrencies for money laundering and illicit fund transfers, these platforms serving as potential messaging and communication grounds for terror organisations, and offshore entities circumventing Indian tax and legal obligations, among others. The Bill, in its current version, is a sharp departure from just about two years ago, when in April 2023, the IT Ministry had introduced rules for online gaming, which were largely seen as pro-industry. However, those rules proved difficult to implement due to potential conflict of issues, as the rules envisioned creating a self regulatory structure, which could have been influenced by the industry. As such, they remained stuck in limbo, even as national security and socio-economic concerns due to such platforms gained traction. What's at stake: hard numbers If the Bill is implemented in its current form, it will be a death blow to the online real money gaming industry, which is projected to be a $9 billion market by 2029. The industry also faces a 28 per cent Goods and Services Tax (GST), with proposals to increase the rate to as high as 40 per cent. The online gaming industry is a sunrise sector in the country, with a collective enterprise valuation of over Rs 2 lakh crore. Official data shows GST revenues jumped sharply after the Council's decision in July 2023 to impose a uniform 28 per cent levy on online gaming, horse racing and casinos with effect from October 1, 2023. Union Finance Minister Nirmala Sitharaman had said last September that revenue from online gaming 'increased by 412 per cent and reached Rs 6,909 crore in just six months… from Rs 1,349 crore before the notification issued on online gaming'. As per the industry, it pays over Rs 20,000 crore annually in direct and indirect taxes. The sector has attracted foreign direct investment of over 25,000 crore till June 2022, and currently supports over 2 lakh direct and indirect jobs. According to a report by FICCI and EY from March 2025, online gaming companies in India collectively earned a revenue of close to $2.7 billion in 2024. These companies typically make money by taking a cut from a user's winnings. As per the report, more than 155 million Indians engaged with real money gaming sub-segments such as fantasy sports, rummy, poker and other transaction-based games in 2024, marking a 10 per cent increase over 2023. On an average, around 110 million people played these games daily. In a letter to the Home Ministry late Tuesday night, three major gaming industry associations – the E-Gaming Federation (EGF), All India Gaming Federation (AIGF) and Federation of Indian Fantasy Sports (FIFS) – said that the blanket prohibition will 'strike a death knell for this legitimate, job creating industry, and would cause serious harm to Indian users and citizens'. Congress MP Karti Chidambaram said that the law has been introduced without industry consultation, and risks driving financial transactions offshore and pushing users toward the dark web. He has called for the Bill to be referred to a select committee. Highlights of the Bill As per the current version of the draft law, the government will prohibit any person from offering online games in India, failing which they could be imprisoned for up to three years, and penalised Rs 1 crore. Those promoting such platforms, such as social media influencers, will also face jail time of two years, and a penalty of Rs 50 lakh. The government will also prohibit banks and financial institutions from facilitating financial transactions on such platforms. The Bill applies to all online money gaming platforms irrespective of whether they are games of skill or chance, a distinction the industry had lobbied hard for in the past. An 'online money game' has been defined as a service played by a user by paying fees, depositing money or other stakes in expectation of winning which entails monetary and other enrichment in return of money or other stakes; but shall not include any e-sports. This is an expansive definition, and is likely to cover all major gaming platforms like Dream11, Winzo, MPL etc. The government, though, is viewing competitive e-sports and game development as crucial drivers of the online gaming industry in the country, and via the proposed law, is keen to promote them. As such, it wants to recognise e-sports as a legitimate form of competitive sport in the country. The government will also help in the creation of platforms or programmes to support game development and distribution. The Bill has envisioned the creation of a central authority to promote competitive e-sports, while ensuring overall compliance with the law. The Centre will recognise, categorise and register 'online social games' with the authority and facilitate the development and availability of such games for recreational and educational purposes. These may have an option to accept payment in the form of a subscription fee or access fee, as long as it is not in the form of a stake or wager. Similar to the approach the government has taken in its recent Income Tax Bill on digital search and seizures, the online gaming Bill too allows for authorised officials to carry out search operations at physical and virtual places, even without a warrant. '…any (authorised) officer…may enter any place, whether physical or digital, and search and arrest without warrant any person found therein who is reasonably suspected of having committed or of committing or of being about to commit any offence under this Act,' the Bill said. 'Any place' includes any premises, building, vehicle, computer resource, virtual digital space, electronic records or electronic storage devices and the authorised officer can gain access to such computer resources by overriding any access control or security code. Key reasons for Central control: national security, socio-economic harm The Bill said that the unchecked expansion of online money gaming services has been linked to 'unlawful activities including financial fraud, money-laundering, tax evasion, and in some cases, the financing of terrorism, thereby posing threats to national security, public order and the integrity of the State'. The need for such a law arises from the 'deleterious and negative impact of online money games on the individuals, families, society and the nation and given the technical aspects including the very nature of the electronic medium used for online money games, the algorithms applied and the national and transnational networks,' it added. The parallel proliferation of online money games accessible through mobile phones, computers and the internet, and offering monetary returns against user deposits has led to 'serious social, financial, psychological and public health harms, particularly among young individuals and economically disadvantaged groups,' it said, adding that such games often use 'manipulative design features, addictive algorithms, bots and undisclosed agents, undermining fairness, transparency and user protection, while promoting compulsive behaviour leading to financial ruin'.
New Indian Express
9 hours ago
- New Indian Express
Elected 8 times to Council, K'taka Legislative Council Chairman Horatti marks 45-year milestone as MLC
BENGALURU: 'I have been addressing the issues of teachers, even if they called me at midnight. And that is the secret behind me getting elected consecutively,' said Karnataka Legislative Council Chairman Basavaraj Horatti, who completed 45 years as an MLC, having been elected from the Teachers' constituency, eight times, since 1980. Seventy-nine-year-old Horatti was speaking after Council members lauded his success, and some including BJP's CT Ravi requested him to reveal the secret behind his repeated election. He said he was inspired by one Mukherjee, whom he met in 1981 in New Delhi, who had this quote at the entrance of his house: 'Those who are coming to me for work, I will do it today only. Tomorrow, I may not get a chance.' 'I got the quote translated into Kannada and put it on a board at my house, and even today, I am follow it and that is the secret of my success,' said Horatti, who has the credit of working with 17 chief ministers, over 400 ministers, and more than 4,000 law-makers. Stating that politics has changed a lot in all these years, he said the current politicians need patience. He added that he has seen both appreciations and criticisms. Earlier MLCs across parties lauded Horatti and requested a programme to be held in his honour. 'Neither JDS nor BJP can claim that because of them, Horatti achieved so much in politics. It was all his own efforts,' said Law and Parliamentary Affairs Minister HK Patil, and that in 60 years of his public life, Horatti did not revealed his caste anywhere. He added that when politics is seen as a money-making channel, Horatti, in all his political life, is not associated with real estate, mining or excise contracts, while extending help to people from all walks of life.
Hindustan Times
12 hours ago
- Hindustan Times
The fiscal implications of GST rationalisation
Prime Minister Narendra Modi announced in his August 15 speech that the government would bring a proposal in the Goods and Services Tax (GST) Council to reform the indirect tax regime beginning with a reduction in the number of slabs. GST, if the proposal goes through the Council, is expected to become a 3-slab tax with two main rates of 5% and 18% and a special rate of 40% from the current four-slab system of 5%, 12%, 18% and 28%. Unless most commodities and services are moved to the 40% slab, which would increase the tax burden on consumers, this is likely to lead to a loss in GST revenues. What can we say about the fiscal implications of this rate rationalization? Here are three charts that try to answer this question. Representational image. (iStockphoto)
