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Delhi Budget: Sisodia presents Rs 60,000 cr budget for 2019-20

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5 years ago

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Delhi Finance Minister Manish Sisodia on Tuesday presented the fifth Budget of the Aam Aadmi Party in the Assembly proposing a total expenditure of Rs 60,000 crore by the Delhi Government in 2019-2020.

Sisodia, in his budget speech, dedicated the Budget to soldiers, including those martyred in the Pulwama attack, and their families.

“The Budget is to fulfil the dreams of the martyrs and to the soldiers and their families and their welfare,” he said.

Sisodia said the Budget estimates for 2019-20 is Rs 60,000 crore, which is double of the 2014-15 budget.
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“Delhi is a financially self-dependant state which generates 95 per cent of its resources by itself and does not depend on any financial assistance from outside,” he said.

The city Budget was of Rs 53,000 crore in 2018-19 and Rs 44,370 crore for 2017-18.

In the current proposed Budget, education again gets the highest allocation with 26 per cent.

“Our government has, since starting, kept about one-fourth of its Budget for education,” he said.

He also said that the share of the transport sector has been doubled in 2019-20.

“Rs 1,807 crore has been kept in the financial year 2019-20 for implementation of various schemes, programmes and projects of public transport which is nearly double than the revised estimates of 2018-19,” he said.

The Budget also allocated Rs 100 crore for implementation of the Swaminathan Commission’s recommendation of higher minimum support price for crops, he said.

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Entertainment

Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists

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2 years ago

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June 25, 2022

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PureWin Online Betting

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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