This article critiques the Information Technology (Intermediaries Guidelines and Digital Media Ethics Code) Rules 2021 (“the Rules”) as they relate to online journalism. The Government’s stated objective for making the Rules is to “level the playing field” of online journalism with print journalism. I examine whether and how the Government satisfies this objective. I make two broad claims. First, the Rules fail to “level the playing field”. The objectives, philosophical approach, and substance of the new regulatory scheme are significantly different from those that govern print journalism, and to the disadvantage of online journalism. Second, rather than “levelling the playing field”, the Rules give the Government overwhelming control of online journalism. The Government exercises ultimate control over the regulatory structures and gives itself unprecedented censorship powers over online journalism. If my claims are correct, the Rules will have catastrophic consequences for online journalism and Indian democracy.