Now that Union Budget is released. Let’s know what got cheaper?
Most of the Indian citizens have their eye-balls glued to their TV screens as Finance Minister Mr. Arun Jaitley tables the new Budget in the Parliament and reads out one decision after another. The primary focus of the budget in the year 2018-19 is to uplift healthcare, agricultural and educational sectors in the country.
According to finance minister, there are lot of things at which Union Budget 2018-19 focuses. One of them is “Government will take all steps to eliminate use of cryptocurrencies which are funding illegitimate transactions and strict actions might be taken against investors in Cryptocurrencies”. This declaration has been made after months of cryptocurrencies speculation in India which is a home to many bitcoin traders and investors.
The government does not consider and recognize cryptocurrency as legal tender. Thus, it is being said that they will take all measures to eliminate the use of these crypto assets in financing illegitimate activities. The government will now make suitable amendment to ensure that dealing and trading in crypto currency is made illegal. They even aim to penalize individuals who are involved in trading or circulation of crypto currency.
In my opinion, people who are planning to deal in crypto-currencies, must consider these facts and beware of the risks involved. The citizens need to be extremely alert and cautious by avoiding getting trapped in such schemes by government because there is a heightened risk of investment which may result in sudden exposed investors. I believe that this statement by Finance Minister doesn’t make these cryptocurrencies illegal in India.inspite, it is just creating an atmosphere of panic among the investors.
According to the Prime Minister, “The 2018-19 Union Budget is farmer friendly, common citizen friendly, business environment-friendly and development friendly”. Budget in the year 2018-19 demonstrates the Finance Minister of India’s intent to boost the investments in development of rural areas, education, healthcare and social sectors
