Budget 2022: Finance Minister Nirmala Sitharaman presents the budget, introduces Cryptocurrency tax

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget for 2022-23 in the Parliament.

Keeping in mind the growing trend of digital currency or crypto currency, the Indian government has included it in the digital asset category with 30 percent tax. No deductions and exemptions will be allowed on the same.

As per the new budget, clothes, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol, acetic acid, cut and polished diamonds, chemicals needed for petroleum products, camera lens for cellular mobile phones, steel scrap will become cheaper.

While, unblended petrol and diesel, umbrella, Imitation jewellery, single/multiple loudspeakers, earphones, headphones, smart meters, solar cells, solar modules, X-Ray machines, parts of electronic toys will become expensive.