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The influence of CBDC & crypto tax on millennial investors
March 21, 2022
A few years ago, fixed deposits (FDs) were India’s preferred investment instruments. Yet, with interest rates on FDs declining in years past to levels not even to the point of combat rising inflation rates, they have in short order lost popularity. For the fear of losing the worth of cash, recent college grads have since begun dabbling in other forms of investment. This pattern saw a major increase in 2019.
New development in the crypto space will likely push many Millennials further into the stock market, and the volume of crypto investments would reduce before long.
The Budget also reduced the long-term capital gains (LTCG) surcharge by capping it at 15%. This helps make the securities exchange a spot for long-haul investments instead of a spot to make a quick buck at.
Presently coming to the other big declaration, the government plans to launch the Digital Rupee.
As mentioned earlier, the confluence of the factors responsible for bringing the blast of millennial investors in the two business sectors was supported by the advanced insurgency of fintech applications. Individuals do not just need accommodation in their daily lives, presently they request it. This is one reason behind why the national bank digital currency (CBDC) is being introduced by the government.
Important Links:
- Post Graduate Diploma in Management (PGDM): https://tscfm.org/courses/3-in-1-management-program/