Cryptocurrency Bill in the Making
The government was slated to present the bill during the recently concluded monsoon session. However, that couldn't be the case.
It is likely to table the cryptocurrency bill in the winter session once the union cabinet clears it. Currently, around 1.5 crore Indians have invested in cryptocurrencies worth Rs 15,000 crore.
The government is unlikely to ban cryptocurrency as no other country has done that. However, it is necessary to stop the usage of cryptocurrency for money laundering purposes. Hence, the bill could propose to put cryptos under regulatory surveillance.
Taliban and India-Afghan Trade
With Afghanistan falling in the hands of the Taliban, Indian exporters are looking at a prolonged halt in the bilateral trade relationship with the war-torn country. Taliban seized Afghanistan within 3-months of the USA withdrawing its troops.
Federation of Indian Export Organisations (FIEO) suggests that trade will be difficult given the prevailing highly uncertain scenario.
India played a constructive role in rebuilding Afghanistan and made significant investments in building institutions. It was also emerging as a prime market for Indian products. However, all that will come to a halt considering the current situation.
Governments Game Plan on VodaIdea
A few media reports are suggesting that the government is keen to maintain a three-player telecom market. For that, it is preparing a relief package for the sector with the survival of VodafoneIdea being the prime focus area. The company reported a loss of Rs 7,319 crore in Q1FY22 from its promoter entities sending distressing signals.
At the same time, the government wants the promoters to pledge fresh capital. Without deploying fresh capital, no amount of relief will be sufficient to get the company out of its financial mess. The company's previous attempts to raise capital from the market have failed.
