With the momentous outcome of the Lok Sabha election, Narendra Modi’s government, now in its 3.0 phase, is set to continue its policies. The allocation of portfolios to his council of Ministers on June 10, despite the BJP’s reliance on the majority, underscores the significance of the election result.
He stated that Amit Shah, Nirmala Sitharaman, and Ashwini Vaishnaw will be the key ministers for real-money gaming, as well as for home, finance, information, and technology. It states that intense policy-framing activity will continue under the leadership of Ashwinin Vaishnavi, albeit in the absence of Rajeev Chandrashekhar, who was earlier deputy minister in the Modi 2.0 cabinet.
As a result, Rajeev Chandrashekar lost to Congress Shashi Tharoor from Thiruvantampuram. Modi also announced that Jitin Prasada would be Ashwini Vaishnaw’s deputy. However, many expected that NDA constituent parties would take hold of the constituent party, but they failed.
How Will The Upcoming Modi 3.0 Continue The Excitement In The RMG Sector?
In India, the IT industry implemented online gaming regulations in 2023. The sector is also anticipating the impact of the Digital Personal Data Protection Act 2023, which was approved by the Parliament last year. This act is expected to significantly influence the operations and data-handling practices of the RMG sector.
He said that Nirmala Sitaraman will head the GST council and look forward to the Viksit Bharat. He announced the tax rate for wagers was revised to 28% in October 2023. In addition, the council may review the status of the new tax regime and the controversy around retrospective tax dues in the next meeting.
According to previous data, the retrospective tax regime issue was pending with the apex court, and the final hearing was held in July 2024. Nirmala Sitaraman Ashwini Vaishnaw, Amit Shah, and Anurag Thakur were members of a group of ministers formed to deliberate issues on regulating online gaming.
The GOM would be expected to continue the work, and with the exception of Anurag Thakur, all three ministers hold the same position. There was a discussion of money laundering in certain gaming companies that have had a negative impact on the gaming world.
With this announcement, the overall allocation has changed slightly with the portfolio of Narendra Modi 2.0 Ministry, and we hope to continue with the same excitement. It also defines that policy continuity will be the order of the day in the Modi 3.0 dispensation.
