What’s in a name? A currency by any other name would sound just as sweet. Sans a hefty 30 per cent to Caesar, it should. Semantics is what Finance Minister Nirmala Sitharaman took refuge in over the confusion within the government on what to do with cryptocurrencies. Consultations are on over re-drafting the Cryptocurrency Bill, which originally sought a blanket ban. Hence, the next best thing—keep a straight face and refuse to call it ‘cryptocurrency’, even while you impose a tax on it.
“Loosely what we refer to as crypto is not currency…[only] what Reserve Bank will issue will be digital currency—anything that prevails outside is not currency [but] assets. Nothing stops me from taxing it,” Sitharaman said about her budget proposal to impose a 30 per cent tax on ‘virtual digital assets’.
Ironically, that may well be one of the clearest intentions the finance minister expressed in her fourth budget outing. Most of the rest ride high on a wing and a prayer of earnest optimism of massive government spending on highways, railways and other infra projects leading to a domino effect of increased money flow through the system generating jobs, which making people spend more, which making the private sector invest more, which leading to economic growth…. you get the drift.
Denne historien er fra February 13, 2022-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra February 13, 2022-utgaven av THE WEEK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
A golden girl
One of India's most formidable beauties passed away earlier this month. The odd thing is she would absolutely hate this obituary; she hated being written about and avoided publicity for all of her nine decades. Indira Aswani was 93 when she died. But anyone who encountered her, even briefly, was in such awe of her grace and poise, and one could not but remember her forever.
The interest in wine is growing delightfully in India
The renowned British wine writer and television presenter Jancis Robinson, 74, recently came to Delhi and Mumbai to reacquaint herself with India's wine industry. This was the Robinson's fourth visit to India; the last one was seven years ago. On this trip, Robinson and her husband, restaurateur Nicholas Lander, were hosted by the Taj Hotels and Sonal Holland, India's only Master of Wine.
United in the states
Indian-Americans coming together under the Democratic umbrella could get Harris over the line in key battlegrounds
COVER DRIVE
Usage-driven motor insurance policies offer several benefits
GDP as the only measure of progress is illogical
Dasho Karma Ura, one of the world's leading happiness experts, has guided Bhutan's unique gross national happiness (GNH) project. He uses empirical data to show that money cannot buy happiness in all circumstances, rather it is family and health that have the strongest positive effect on happiness. Excerpts from an interview:
India is not a controlling big brother
Prime Minister Tshering Tobgay considers India a benevolent elder sibling as the \"big brotherly attitude\" is happily missing from bilateral ties. He thinks the relationship shared by the two countries has become a model of friendship not just for the region, but for the entire world. \"India's attitude is definitely not of a big brother who is controlling and does not allow the little brother to blossom and grow,\" says Tobgay in an exclusive interview with THE WEEK.
Comrade with no foes
Lal Salaam, Comrade Yechury-you were quite a guy!
Pinning down saffron
In her first political bout, Vinesh Phogat rides on the anti-BJP sentiment across Haryana
MAKE IN MANIPUR
Home-made rockets and weapons from across the border are escalating the conflict
SAHEB LOSES STEAM
Coalition dynamics and poor electoral prospects continue to diminish Ajit Pawar's political stock
