He said this in an interview with the Economic Times. In which cryptocurrencies and equities differ from each other. Cryptocurrencies will collapse one day.
The Nifty is also forecast not to fall below 15000 points.
Increase corporate growth
And 2022 will be a favorable year. This will not be a big change. Because the growth of corporate entities can be healthy. Rakesh Jun Junwala's idea is that in the federal budget 2022, the central government will issue its own digital currency through the Reserve Bank. It has also come after announcing various tax schemes that income earned through cryptocurrencies can be taxed at 30%.
Focus on private investment
Whatever the Modi government does, it is aimed at long-term livelihoods, not short-term gains. There is no capitalism or socialism in the country. But there is reality. Jhunjhunwala said the government was focusing on increasing private investment.
Hope
Growth is the most important thing. And it is for the benefit of all Indians. Good development can also create social welfare and jobs. For this, the government has come up with a PLI scheme. It will see tremendous success. The government dreams that India can see 10% growth. He hopes this will be possible.
Stocks to watch out for
Shares of Rakesh Jhunjhunwala, Infrastructure, Metals and Hospitality, and PSUs began to rise. Public sector banks are becoming more profitable than private banks. Meanwhile, he said the growth rate of corporate entities could reach 8% of GDP.
Tata Group
And investments in the financial sector are increasing at an unprecedented rate. Many international countries are watching India. Tata Group companies in particular are on the rise. I am looking for the next Tata Group company. He also pointed out that I am excited about the auto company Tata Motors.
Health Insurance
Tata Steel's Epida ratio has also increased. This is more than the cement companies. The health insurance sector, meanwhile, lags far behind. He said rising costs in the medical sector would lead to growth in the health insurance sector.
Interest in cryptocurrencies in India has been on a huge scale in recent times. Not only interest but Indians have also made substantial investments.
However, even before the budget, cryptocurrency remained unclear.
India has remained silent, especially as various neighboring countries have expressed support for cryptocurrencies. And while the crypto bill could be filed, it would have no impact whatsoever. Will cryptocurrencies be allowed in India permanently? Or will it be banned? Came from the suspicion of.
Meanwhile, it was recently announced that the Reserve Bank of India will create its own digital currency. But so far no major announcements have been made on this, from the most important expectation that it may be announced in the budget.
Digital currency by the Reserve Bank
In this context, it has been announced in the budget that the digital rupee will be introduced by the Reserve Bank as a surprise to cryptocurrency investors.
It is hoped that this digital currency will boost the digital economy and lead to a cheaper currency management system.
It has been announced that this digital currency will be created using blockchain and other technologies. This may encourage cryptocurrency investors to invest further. However, the government has introduced a substantial tax on this. It is widely believed that this will generate revenue for the government.
The Finance Minister had recently told the Lok Sabha that as interest in cryptocurrency has been on the rise in recent times, further research is needed. Meanwhile, no report on this has been filed in the Economic Survey. Crypto investors are also worried about whether there will be an announcement in the budget.
In this situation, it is seen as a very good thing that such an announcement has come in the budget. The introduction of digital currency by the Reserve Bank itself will be very safe for investors. It is also an undeniable fact that internet transactions are on the rise.
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