In Union Budget 2022 Stock Market, among sectors, auto and oil & gas down 1 percent each, while FMCG, pharma, IT and metal names up 1-2 percent.
| Index | Prices | Change | Change% |
|---|---|---|---|
| Sensex | 58,882.60 | 868.43 | +1.50% |
| Nifty 50 | 17,584.25 | 244.40 | +1.41% |
| Nifty Bank | 38,496.25 | 520.90 | +1.37% |
India is finally on the path to legitimizing the crypto sector in India. It's phenomenal news that India launching a blockchain-powered Digital Rupee is phenomenal news. This move will pave the way for crypto adoption and put India in the front seat of innovation.
It's also interesting to note how our government is beginning to recognize crypto as an emerging asset class given how our FM was referring to it as a virtual digital asset. The biggest development today, however, was clarity on crypto taxation. This will add much-needed recognition to the crypto ecosystem of India. We also hope this development removes any ambiguity for banks, and they can provide financial services to the crypto industry.
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