To start with, the Cryptocurrency bill’s basic aim would revolve around the creation of official digital currency, which would be issued by Reserve Bank Of India. As discussed in previous article that RBI deputy governor would go through the issues concerning virtual Currencies. Therefore in this concern Nirmala Sitharaman, the Finance Minister has clearly stated that government is about to resolve the tax issues for easy overseas listing of Indian Companies and thereby preparing legislation on cryptocurrency. In addition to this, government has made changes in Companies Act so as to allow direct listing on the foreign exchanges of the Indian companies. Still certain crucial change is yet to me made in concern with capital gains tax on such shares.
The Finance Minister in this matter further stated that inside homework is been done and India is becoming a boom for raising money and various companies are raising money accordingly.
Recently, surge of liquidity has resulted in faster growth of IPOs with numerous issues in addition to mega LIC, which will in upcoming year meet the disinvestment target of the government of round 1.75 Lakh Crore.
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Finance Minister’s Report On Inflation
Sitharaman had mentioned that inflation had moderated and would remain lowered to 6% comfort level. These are the signs of high consumption and a hike in investments.
The challenges which the “second wave” has given, economy is trying to come out of it and the FM minister also added to this information that government won’t step back in case any issue arises in near future.
Sitharaman’s Talk On Taxation And Capital Expenditure
The FM Minister said that government would be covering the capital expenditure which is provided in the budget and that would make necessary checks on spending so that wasteful spending could be avoided thereof. The recent changes in the provisions concerning taxation were asked to the Minister and FM Minister was having the view that rules would be ON soon
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