J Kumar Infraprojects consortium wins Mumbai Metro project of Rs 139.72 cr
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Economic Times
21 minutes ago
- Economic Times
Andhra Pradesh Maritime Board, APM Terminals ink Rs 9,000 cr pact for port development
The Andhra Pradesh Maritime Board on Thursday signed an agreement with APM Terminals to develop three major ports in the state with an investment of Rs 9,000 crore. The pact was signed in the presence of Chief Minister N Chandrababu Naidu, who said Andhra Pradesh would be developed as the "eastern gateway" for maritime trade and as a logistics hub in India. "APM Terminals has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Maritime Board for the development of the state's ports with an investment of Rs 9,000 crore," a press release Terminals is a subsidiary of global shipping and port management major AP agreement will facilitate the development of the Ramayapatnam, Machilipatnam and Mulapeta ports with modern terminals and advanced cargo-handling systems. It is also expected to generate nearly 10,000 direct jobs. Naidu directed officials to build an economic ecosystem around the ports and ensure low-cost cargo transport facilities for neighbouring states such as Telangana, Chhattisgarh, Maharashtra, Karnataka and also asked APM Terminals to prepare a comprehensive logistics plan covering road, rail, inland waterways and air connectivity to strengthen the state's trade network. The chief minister noted that Andhra Pradesh is working on an action plan to establish a port or harbour every 50 km along its over 1,000-km coastline, it added.
Scroll.in
23 minutes ago
- Scroll.in
Why the ban on online games played with money is no solution to gambling, user safety concerns
The Promotion and Regulation of Online Gaming Bill, 2025, passed by the Rajya Sabha on Thursday, threatens to upend the vibrant, multi-billion-dollar online gaming sector in India. By banning all online money games outright, the government has missed the opportunity to take a calibrated approach to regulating a sector that employs over 200,000 people and contributes significantly to the national exchequer. The Statement of Objects and Reasons to the bill cites concerns such as addiction, money laundering and user safety among other concerns to justify the prohibition on online money games. There always has been a plethora of options to regulate the gaming sector, ranging from creating a licensing framework for operators of real money games, imposing deposit and loss limits to protect users to implementing strict know-your-customer measures and anti-money laundering provisions. Similar models have been successfully adopted around the world. Such an approach would have provided the government with the necessary oversight while allowing the industry to grow responsibly. Instead, a rushed and unilateral law has been enacted, one that will now face years of legal challenges. But even a successful legal challenge will come too late for many businesses that would have already been forced to shut down. The Promotion and Regulation of Online Gaming Bill, 2025 is here to boost innovation & protect citizens! The Bill encourages e-sports & online social games while prohibiting harmful online money gaming services, advertisements & financial transactions related to them.… — Ministry of Information and Broadcasting (@MIB_India) August 20, 2025 The ban is likely to be the death knell for more than 400 Indian companies and threatens to wipe out an industry that was projected to reach a valuation of $9.1 billion by 2029. The loss of revenue from the gaming market could cost the government an estimated Rs 20,000 crore in annual Goods and Services Tax and income tax. The bill not only threatens current jobs but could also stifle talent development. Game developers, graphic designers and engineers – a highly skilled workforce – will be forced to either move to other sectors or leave the country. The gaming sector provides a unique opportunity for India to lead the world in digital regulation. But choosing prohibition over partnership threatens to reverse the course on many laudable steps the government has adopted to create an enabling environment for innovation in India. Furthermore, a prohibitionist approach is a gift to the black market. With the ban on regulated, compliant Indian businesses, the demand for these games is unlikely to vanish. Instead, users may migrate to unregulated, illegal offshore platforms that operate without any safeguards, age verification, or consumer protection. This creates a far more dangerous environment, making users vulnerable to fraud, data theft and financial exploitation. It also starves the government of tax revenue and makes it impossible to monitor illicit financial flows. Gaming is cool. Gambling isn't 🚫 With the new Online Gaming Bill: • Real-money apps out • Betting and gambling banned • No fake monetary-return promises A safe, secure and fun gaming space for India. #OnlineGamingBill2025 @GoI_MeitY @MIB_India — MyGovIndia (@mygovindia) August 20, 2025 The gaming bill could also ward off foreign investors. The gaming industry was viewed as a sunrise sector attracting significant inflows from foreign investors despite the regulatory uncertainty around real money games. However, the move to prohibit online money games and in effect shutter the operations of an entire sector without consultation is likely to dissuade investors from taking risks to invest in sectors that thrive on innovation and push the boundaries of what is permissible. The gaming industry is dynamic, with segments ranging from e-sports and casual social games to much-debated real-money games. Any legislation concerning this sector, therefore, demands a nuanced understanding of its intricacies. Previous conversations about the legislation had explored a measured approach, like getting the sector to establish self-regulatory organisations and making a distinction between games of skill and games of chance. Good governance demands that regulations are proportionate and well-considered. In a complex digital economy, this means working with those who have built the technology and understand the market dynamics. The lack of consultation has led directly to several flaws in the bill itself. Most glaringly, the gaming bill fails to make a clear distinction between games of skill and games of chance. This is not a trivial legal point, but the very foundation upon which the industry has operated for years. Several courts, including the Supreme Court, have upheld the legality of skill-based games such as poker and fantasy sports. By lumping all real-money games into the same category, the gaming bill ignores judicial precedent and shows a fundamental misunderstanding of the sector. The implementation of the gaming bill should be put on hold until a more workable solution is found. Good regulation is not about wielding a regulatory hammer but about building a stable and predictable framework that fosters innovation and protects citizens in a way that is smart, effective, and sustainable.
New Indian Express
23 minutes ago
- New Indian Express
Punjab slams Centre over GST losses, demands release of Rs 50,000 crore dues
CHANDIGARH: The AAP-led Punjab government on Thursday slammed the BJP-led Centre after the two-day GST GoM meeting, demanding immediate release of pending Rs 50,000 crore dues while accusing the GST regime of causing massive revenue losses to states. Punjab Finance Minister Harpal Singh Cheema said GST has inflicted a Rs 1.11 lakh crore loss on the state and alleged that stopping the compensation cess was aimed at weakening state economies, forcing them to 'beg with folded hands' before the Centre. Cheema stressed that Punjab would not have suffered such massive revenue losses had it not joined the 'One Nation-One Tax' scheme. With the compensation cess now scrapped, he called out the BJP government for deliberately wrecking state economies to make them beg before the Centre. He said, "On August 20–21, the GST Group of Ministers met continuously for two days. On Wednesday, the meeting was on life and health insurance. In the evening, a meeting was held on compensation cess. The Chairman told us that today the meeting was on rate rationalisation, and that all members of the compensation cess would participate. Therefore, we also participated in Thursday's meeting.' He continued, "GST came in 2017. In the past eight years, there have been 27 amendments in GST, with exemptions given to different sectors. Fifteen times the GST rates of various goods were reduced. This practice has been continuing in the GST Council for the last eight years, and for the past three years I have been witnessing it myself.' Highlighting the Prime Minister's announcement, Cheema added, 'The Prime Minister declared that there would be two GST slabs - one at 5 per cent and another at 12 per cent - and everyone would celebrate Diwali. But after GST came, who will compensate for the loss suffered by Punjab and other states? Who will pay for this damage? One Nation, One Tax was the scheme of the central government, and all states, including Punjab gave their consent. Everyone agreed that uniform tax rates should prevail across the country so that no state could impose higher or lower taxes on its citizens. But this formula has inflicted a huge loss on Punjab.'
