B R Sharan Kumar

  Horse racing’s lavish market masks a bleak reality   By Sharan Kumar   Indian horse racing – once the sport of royalty, now seemingly one long gallop toward financial ruin, with a side of bureaucratic torment. The latest hurdles? A little something called GST and an amended Income Tax policy, making race clubs’ survival look like an audition for “Mission Impossible.” You’d think someone had bet the government was trying to bleed the industry dry – and by the looks of it, they might win that one.   Race clubs across the country are clutching their purses tighter than ever, rationing pennies while desperately relying on the goodwill of a few generous industrialists. RWITC, for instance, survives almost solely on the mercy of the big-hearted aficionados. Bangalore Turf Club (BTC) isn’t faring much better. With outstanding government dues, legal tangles, and lease rental overheads piling up, the club teeters on financial freefall, pending a possible truce w...