‘A 40% IPL tax could build 10 IITs’: Bengaluru professor questions India’s vision priorities

While the stadiums turn around and the billions fill the flood every year, participants in a start-up question. What if even a part of that money is just fun?

Iisc Bengaluru’s Professor Mayank Shrivastava reports that if a simple 40% tax for BCCI IPL was used, almost 15,000 crores could be raised for more than three years to make 200 for a sufficient fund. “Add franchise profits (₹ 800- ₹ 1,200 Crore / year), and another annual 320- ₹ 480 crores could be collected a year.

Only in IPL 2023, BCCI reports that 5,120 Crore Surplus with 11,770 Crore revenues, which are mainly powered by media rights. According to the projected income of 2024 and 2025, the scale is growing annually by 12,000-23,3,500 crere.

However, BCCI benefits from income tax benefits in accordance with its charitable status. The benefits of billionaires owned by favorable tax treatment, and the salaries of the players are taxed individually. “Entertainment is subsidized. Research is taxed, “Shrivastavavava said, highlighting the irony that research institutions pay for GST laboratory equipment and consumables.

The pattern is not limited to cricket. Bollywood production gets tax breaks. Religious confidence maintains huge trading empires without paying taxes. The new sports leagues enjoy the launch of the tax holidays. Shrivastava claims that thousands of mischievous people may even cause modest taxes for scientific and technological development in these prosperity.

“India has no money. Indians don’t have money. What we are missing, the vision of investing in the future, “he said. Quick return businesses are dominated, while long-term investments in research and innovation are seen as “high risk, low return”.

Shrivastavan concludes: “The entertainment keeps the present. Research is building the future.