How much important is the Privacy Policy ?

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Mar 19, 2017 5:07:44 PM via Website

My Dear Friends , I am an Indie developer from India . I have some apps on playstore . I have included privacy policies for all of my apps on the store listing page but I did not put the link inside my apps . so is there any chance that this could be a google strike for my apps ?
Please Suggest me friends . I am feared to loss my developer's account .