Finance Minister Nirmala Sitharaman will present the Union Budget 2023 on February 1, 2023, which is of particular interest to all sectors – including the booming esports and video gaming sector. The Covid-19 pandemic and ensuing lockdown gave a boost to esports viewership and since then the sector is growing at an impressive rate in the country.

Leaders from the sector are hoping that in the Union Budget 2023, the government will introduce measures to support the next phase of growth, some reforms in tax incentives for game developers and esports organisations, and opening more training centres, along with other types of benefits.

Introduce measures to support the next phase of growth in the esports sector

Animesh Agarwal

According to Animesh Agarwal, Founder and CEO, 8bit Creatives, the esports industry is growing at an impressive percentage and is only forecasted to grow more in the coming years, both in terms of viewership and revenue.

“In the Union Budget 2023, we hope that the government will introduce measures to support the next phase of growth in the esports sector. The sector eagerly awaits a progressive policy structure from the government, along with it they should also be considering levying a lower tax slab than the existing 18%,” Agarwal stated.

Furthermore, Agarwal highlighted that the sector aligns well with the government’s…