Tag: Budget 2024

Union Budget 2024: Major tax revisions set to boost gaming and esports sector

Incubators serve as a platform for young game developers and studios, providing critical resources like game development tools, testing environments, and infrastructure. Specialized gaming incubators can guide these startups on creating video games for local and global markets, helping them overcome entry barriers and thrive.

The rollback of the Angel tax is being considered to be a major boost for Indian gaming and esports entrepreneurs, leading to more opportunities as well as higher engagement with the youth.

Union Budget 2024: Government to spend Rs 1,089 crore for information and publicity

A research report titled The Effectiveness of Tobacco Disclaimers on OTT Content Services by Koan Advisory Group, published in May 2023, found that OTT content does not significantly influence smoking habits in India.

According to the budget expenditure report for 2024-2025, the government has allocated Rs 36.93 crore for Art and Culture and Rs 2,959.94 crore for Broadcasting. Furthermore, the government has allocated Rs 23 crore to the National Film Development Corporation.

Indian Industry wishlist for Budget 2024: Tax relief, EV push & skill upgradation

The surge in advertising spend will be directed towards regional and localised campaigns, aimed at capturing the growing market share in rural segments in H2 FY25. (Image source: Moneycontrol)

Industry leaders are awaiting measures that will empower their respective sectors and propel the nation towards its $5 trillion dollar ambition.

Indian gaming industry awaits tax exemptions, SEZ in upcoming budget

Union Finance Minister Nirmala Sitharaman will be presenting the Budget on July 23, Tuesday

Recently, a consortium of 70 Indian gaming companies wrote to the PMO and I&B Ministry suggesting a reduction of GST on video games to a 12 percent bracket to promote sustainability and better cash flow for game companies, as well as exemptions on import/customs duties, IGST, and any cess for proprietary hardware development kits used for testing and developing video games.

Budget 2024: Boost AI tech in taxation, PPP model, building trust, say experts

The commission stated that the investigation will focus on whether Google properly evaluated whether PaLM2’s data processing presents a “high risk to the rights and freedoms of individuals” in the EU.

The Centre and the state have already implemented policies focusing on AI such as the Bhasini program, and YuvAI for skilling youth