MoS Finance Opines Legalising Betting would Counter Betting Practices

Fri Nov 20 2020 12:31:04 GMT+0530 (IST)

Speaking at an event, former Board of Control for Cricket in India(BCCI) President and Member of Parliament from Bharatiya Janata Party(BJP) made many heads turn by batting for legalising bettings.

Serving Minister of State for Finance and Corporate Affairs Anurag Thakur who took part in the event hosted by ICICI Securities said legalising betting can counter match-fixing practices.

He didn't stop there, the Minister said, apart from countering the match-fixing issue, legalising betting will also give tax revenues to the country.

The Minister's remarks came as a response to the Economic Advisory Council to the Prime Minister's (EACPM) part-time member Nilesh Shah who came up with the idea to legalise bettings.

The idea to legalise betting coming from Nilesh Shah, who is widely regarded as a noted personality mutual fund industry gained a lot of significance.

Nilesh Shah pitched the idea to legalise betting activities when betting has been practiced across the globe in various sports like Cricket, Foot Ball, and other sports. Experts cited that thousands of crores were involved in setting industry annually.

If the same gets into the hands of the government, then the amount can be spent on infrastructure development and other development works. Let us wait and see how the Finnace Ministry reacts to this.