Modi reappoints Nirmala Sitharaman as India's Finance Minister

Full story: https://grafa.com/news/modi-reappoints-nirmala-sitharaman-as-india-s-finance-minister-234029

Indian Prime Minister Narendra Modi has reappointed Nirmala Sitharaman as Finance Minister, extending her tenure since 2019.

Sitharaman's role in shaping India's economic policies, including cryptocurrency regulation and taxation, remains crucial.

Investors in the Indian crypto space express ongoing concerns over high taxes, including a 30% flat tax on crypto income and a 1% Tax Deducted at Source (TDS) on transactions over ?50,000.

Despite lacking a formal regulatory framework, the Indian government acknowledges the risks associated with cryptocurrencies and emphasizes the need for international cooperation in their regulation.

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