INSUBCONTINENT EXCLUSIVE:
Niti Aayog CEO Amitabh Kant said this budget looks at sunrise areas of growth
FileNew Delhi: India going to be the first country to implement a digital rupee and a high tax on digital currency will be beneficial for
middle-class investors as it sees frequent fluctuations, says Amitabh Kant, CEO of Niti Aayog today.Speaking to ANI on Union Budget 2022-23,
he said, "The Reserve Bank of India (RBI) will implement a digital rupee this year and India going to be the first country to implement and
regulate the digital rupee
The 30 per cent tax on virtual digital assets will help to regulate the crypto
The high tax is good as digital currency sees much fluctuation and the common man invest in it
understand that the country needs growth, they have to move the country forward."As the country will prosper, the middle class will also
And the country could only progress with infrastructure which means investment, growth and savings
The intention is growth and that of all classes in the society and this budget will do it," said Mr Kant.He further said that this budget
looks at sunrise areas of growth because people always look at sunset areas of growth.It reduces the capital surcharge on capital gains tax
The budget pushes for clean electricity, the digital rupee and it pushes for a range of areas of growth that India need to progress in the
coming decade, he added.Union Finance Minister Nirmala Sitharaman announced today that income from digital asset transfers will be taxed at
This move is seen as 'crypto tax'.Presenting the Union Budget 2022-23 in Lok Sabha, the Finance Minister said gifts received in the form of
cryptocurrencies will also be taxed at the same rate.Cryptocurrencies gifts will be taxed at the receiver's end."I propose to provide that
any income from transfer of any virtual digital asset shall be taxed at the rate of 30 per cent
No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition," Ms
Sitharaman said.The Finance Minister also announced that the Reserve Bank of India will issue a digital rupee in the next financial year.
