Budget 2022 expectations: eSports industry seeks lower tax slab, more funds
Sai Srinivas, Co-Founder and CEO, Mobile Premier League (MPL) has said that he wants the central government to consider levying a lower tax slab in the upcoming Union Budget 2022.
Budget 2022 is almost here and several industry experts are coming forward with their list of expectations that they want the central government to consider. It can be noted that the Union Finance Minister Nirmala Sitharaman will be presenting the Union Budget 2022 on February 1. Due to Covid-19 pandemic several sectors and industries have been adversely impacted. But on the contrary, there are industries that have flourished, especially the digital ones.
The online skill gaming and esports industry is one of them. The sector has not only witnessed growth but is also expected to flourish further. Experts from the sector expect the central government to introduce measures which will support the industry in its development. Speaking on the same, Sai Srinivas, Co-Founder and CEO, Mobile Premier League (MPL) said that the online skill gaming and esports industry is bound to grow even further, opening up new career opportunities.
"The online skill gaming and esports industry has been one of the very few sectors that has not just weathered the pandemic-induced slowdown, but has witnessed exponential growth. The industry is bound to grow even further, opening up new career opportunities for both gamers and game developers, and helping take Made in India games to the world," Srinivas said.
Keeping his expectations from Budget 2022 forward, he added, "As we look ahead, we hope the Government of India will introduce measures to adequately support this next phase of growth. Online skill gaming companies, which have flourished amid phenomenal investor interest, are well-placed to create jobs in roles ranging from VFX designing to software development."
"The Budget should consider levying a lower tax slab than the existing 18% to aid this. With esports a medal event at the Asian Games, and continuing to gain prominence, this will also help incentivise a greater number of professionals to get into esports and represent the country at global tournaments of this stature," he said.
"The industry will also benefit from a fund that can provide capital to talented developers and designers, putting India on the path to becoming the hub for game development globally. Access to infrastructure will be crucial in this regard. This can be achieved by establishing specialised AVGC Centres and Universities for talented designers, visual artists, and developers who may have the capabilities but not the resources to build world-class games," Srinivas said.
He further said, "Lastly, we hope that this year will bring more clarity from a regulatory standpoint. Online skill gaming suffers from a lack of differentiation from prohibited categories and games of chance. A uniform policy will be welcome and provide much-needed stability to the sunrise sector."