Meanwhile in India we got 30% tax on profit.1%tds on total amount sold. Local crypto exchange like coinsDCX take 0.5% total amount sold(they have to pay 18% of 0.5% which they take from us).
If ou make a profit of 1000, with all these, you get less then 500 in your hand if you are lucky. The 1% TDS is returned to you when you file income tax. But still, it's a huge "mergin".
Some people who defend all decisions of government blindly will come and say "crypto can be dangerous, can even be used for terror activities, can be used to launder money etc etc" but do these people think that countries like the USA, Australia, Singapore, Canada, Germany, UAE and many more don't understand the problem, risks of crypto? yet these countries welcome crypto. Many even considering making crypto legal tender. They instead of avoiding the imminent progress are actually facing it head on and solving the issues with crypto.
While most of the world is looking forward towards the future, my beloved country is looking backwards towards the past and digging up old graves.
Can India never be real global leader in something? Will it remain a global leader in name sake only? Will india only produce great minds to be taken most of them by other countries? If old and current government had really cared about retaining the brain power then we would already have many silicon valley in india. Banglore can be considered one but nowhere near.
India can be great but only if my fellow citizens would start voting based on real issues like education, infrastructure, healthcare, foreign policy, law and order etc instead voting based on religion, caste, culture, language etc. If not then we will always remain followers behind real global leaders and never become real global leader ourselves. If the attitude of Indian government towards crypto does not change then India will welcome crypto around 2050 when already most of the world would have long since accepted crypto as main stream. We will always be behind.
So hope before it's too late, we will see better voters.
