2023-2024 Indian Budget and Crypto

As we know India's 2023-2024 budget has passed on 1 februray of 2023 by India's Finance Minister Nirmala Sitharaman . People from all sectors had high hopes for this financial year. Though it fulfilled the expectations of people in some extent but Indian government did not offer no relief for Crypto Industry. However, Indian government made no announcements about crypto and blockchain in union budget 2023-2024.

The crypto industry in India has been left in a state of panic about an uncertain future regarding this sector. Last year RBI Governor Shaktikanta Das made an controversial statement about this popular currency. He demanded to ban this currency. Cryptocurrency has become popular all over the world in the past years. Still there is no rule and regulations are formulated for this most popular currency in the world. But recently UK govt. stated that they are working on formulate rules and regulation on crypto industry. But it will take almost seven-eight years to come in light.

Finance Minister Nirmala Sitharaman announced 30 percent tax on crypto in the 2022-2023 union budget which did not revised during this financial year. This means that miseries will compound for a crypto sector in India. The various scams and frauds related to crypto around the world have forced the governments globally to ensure they protect investors by banning this digital currency or imposing heavy taxes on this like in India. Install the WikiFX App on your smartphone to keep up to speed on current events. Link to the download: https://www.wikifx.com/en/download.html？source=fma3