As India’s Finance Minister Nirmala Sitharaman prepares to present the Union Budget on February 1, the country’s income tax authorities have issued a stark warning to Parliament: the government’s ability to track and tax cryptocurrency transactions is being severely undermined by fundamental enforcement challenges. In a presentation to the parliamentary standing committee on finance, officials highlighted how the borderless, pseudonymous nature of virtual digital assets creates significant gaps in tax recovery, signaling deep institutional discomfort with privately issued crypto assets like Bitcoin (BTC) and Ethereum (ETH) ahead of crucial budget decisions.
about India Tax Authorities Flag Crypto Enforcement Gaps Ahead of BudgetNirmala Sitharaman
0 posts last weekIndia’s Stock Market Faces Slow Recovery After Historic Decline
India’s stock indices are poised for a slow recovery after experiencing their worst monthly decline in nearly three decades, with the Nifty 50 expected to rise to 24,000 by mid-2025. Analysts remain cautious, citing high inflation and stagnant incomes as key factors hindering corporate profits and consumer spending. Despite recent budget measures aimed at boosting growth, skepticism persists regarding their immediate impact on the economy.
about India's Stock Market Faces Slow Recovery After Historic DeclineSensex Plummets Over 1000 Points Amid Global Market Turmoil
The Sensex plummeted by over 1,000 points, closing at 76,330, driven by unfavorable global cues, significant FII sell-offs, and a historic low for the rupee against the dollar. Rising Brent crude prices raised inflation concerns, while anticipation of a less favorable Union Budget added to market anxiety.
about Sensex Plummets Over 1000 Points Amid Global Market Turmoil