India’s fiscal deficit in 11 months at 86.5 pc of full financial year target
The revised annual estimate for the fiscal deficit in the vote-on-account budget on February 1, was at Rs 17.35 lakh crore for the full financial year 2023-24.
Direct tax collected by way of tax deducted at source (TDS) on payments made upon transfer of virtual digital assets (VDA) aggregated to Rs 157.9 crore upto March 20, 2023, the Parliament was told on Tuesday.
“Rrypto assets are currently unregulated in the country, however, transactions in cryptocurrencies are subjected to provisions of various laws like the Prevention of Money Laundering Act, 2002 and Income Tax Act, 1961,” Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply.
He also said that the Financial Stability Board states in its consultative document titled “Regulation, Supervision and Oversight of Crypto-Asset Activities and Markets” that investment and activity in the crypto asset market is largely self-contained and is mostly for speculative purposes with limited connections to the real economy.
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