‘Can We Build IITs By Just Watching IPL?' IITian Questions India's Priorities
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In his LinkedIn post, Virendra Grover asks if IPL's huge revenues could be taxed and used to fund new IITs and research.
'Can we build new IITs by just watching IPL?" This question surfaced in a LinkedIn post shared by career coach Virendra Grover. For over two months, India was immersed in the excitement of the Indian Premier League (IPL). It showed that the passion for cricket is undeniable. But Virendra raised an important question: what if the huge revenues generated by IPL were taxed and redirected towards building India's future like funding new IITs and research?
Quoting IISc Bengaluru professor Mayank Shrivastava, Virendra, an IITian himself, wrote, 'India doesn't lack money. Indians don't lack money. What we lack is the vision to invest in the future."
In his post, Virendra backs his point with some striking numbers. He shares that IPL 2023 revenue was Rs 11,770 crore and BCCI's surplus was Rs 5,120 crore. Over three years, IPL profits total Rs 15,000 crore. He says that with a potential tax of 40%, this money could be 'Enough to build 10 new IITs." He also highlights that franchise profits of Rs 800-1,200 crore per year could generate a tax potential of Rs 6,000 crore annually for research.
But here's the irony Virendra points out in his post: 'BCCI pays no income tax (charitable status), Research labs pay GST on equipment, Bollywood, religious trusts, sports leagues = tax breaks."
Quoting Shrivastava, he wrote, 'Entertainment is subsidised. Research is taxed."
He then asks some hard-hitting questions: 'Why does a cricket board enjoy tax exemption while research institutions struggle for funding? Why are we taxing microscopes but not match tickets? If India truly dreams of becoming a tech powerhouse, is this where our money should go?"
'If 1% population has acquired more wealth, don't spend time in questioning that…instead help others Rise," he concluded.
Take a look at the post here:
In the comment section, one user said, 'Interesting. Did not know this. Disappointing. So it's more important to produce world class cricketers than scientists? Haha."
Another shared, 'Food for thought for all the policymakers! Reason for not having good researchers and breakthrough researches in India."
A person disagreed with Virendra's view, writing, 'With all due respect, this is a misguided comparison!! Like comparing car and carpet!! Entirely two different things! We cannot draw a comparison like this. And how can you say science is not thriving on its own. It's like if you have two eyes or kidneys, why not donate one?"
Meanwhile, this year's IPL concluded with Royal Challengers Bangalore emerging as champions by defeating Punjab Kings in the final match.
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