The rise of cryptocurrency has unsettled the government and the central bank too -- which feared losing control over the monetary supply. Even as it was scrambling a legislation to tame the elephant in the room, the government announced two quick measures in the recent budget, which experts believe are meant to check the rise of the private digital currencies. Apart from taxing it heavily, the government announced RBI’s digital currency -- a crypto competitor which it can control. Finf out more about it and how it may give fillip to fintech sector as Prime Minister strongly believes. Soon after Finance Minister Nirmala Sitharaman’s Budget 2022 presentation, Business Standard caught up with member of her team to understand the Budget better. Get a perspective of the government’s disinvestment road map from DIPAM Secretary Tuhin Kanta Pandey. Information technology stocks have been on a downward spiral in 2022.
The Nifty IT index has slipped over 7% YTD, and has been the worst hit amongst its peers on the NSE. In comparison, the Nifty50 index has moved up over 2% during this period. So, what is ailing the sector and why is it out of flavour on Dalal Street? A day after the budget, Union finance secretary TV Somnathan told a business news channel that the government doesn’t treat trading in crypto assets as illegal. They will be treated in the same way as betting on horse racing or any other speculative transaction. Find out more about cryptocurrency, how it works, what challenges it is posing before the government and more in this episode of the podcast.
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