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Will fulfil commitments on crypto, bank privatisation, says FM Sitharaman

The government is hesitant to kick-start the bank privatisation plan in the face of trade union opposition.

April 01, 2022 / 07:16 PM IST
Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman

Union Finance minister Nirmala Sitharaman on April 1 said the government will fulfil commitments on issues like bank privatisation and cryptocurrency regulation but didn't elaborate further.

“These are commitments which we have to fulfil. We will be moving forward, you will get to know when,” Sitharaman said while speaking at the 17th Edition of IBLA: CNBC-TV18 India Business Leader Awards event.

Bank privatisation is a promise which the government has not managed to progress on despite several rounds of announcements. The government is hesitant to kick-start the privatisation plan in the face of trade union opposition.

Similarly, Crypto regulations are yet to be formed at the national level.

During the Union Budget 2022, the finance minister announced that there will be a 30 percent taxation on all income from transfer of virtual digital assets as there has been an enormous growth in the use of virtual digital assets and thus there is a need to bring them under specific tax regime.

But the Centre has been non-committal about the Crypto law so far.

There were a lot of speculations about crypto taxation in the last Parliament session. But apart from the taxation aspect, no concrete regulation was proposed by the Ministry of Finance in the session.​
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