Increase regulatory focus on cryptocurrency: Pre-Budget survey
The pre-budget expectations survey on Saturday showed a growing demand for increased regulatory focus on the cryptocurrency sector. According to the Grant Thornton India Survey, around 79 percent of the respondents believe that the FY 2013 budget should focus on regulating cryptocurrencies and NFTs.
In addition, over 75 per cent of the respondents believe that the budget should focus on green energy, data privacy bill and public debt registry initiatives.
Vivek Iyer, Partner-Financial Services, Grant Thornton India, said, “The market survey clearly reflects the forward-looking expectation for the government by focusing on initiatives around evolving risks, which will help in the sustainability of the financial services ecosystem. and helps strengthen growth.”
As per the survey, 8 out of 10 respondents believe that green energy should be a priority sector.
The survey report said, “Nearly 78 per cent of the respondents believe that green energy should be included in the definition of priority sector for lending to a domain that would require a high level of investment. “
“With the focus on financial inclusion and neo-banking, around 77 per cent of the respondents feel that the Data Privacy Bill needs to be passed,” it added.
Respondents also voted for fiscal stimulus measures to cushion the damage from the ongoing COVID-19 pandemic, but stood against the moratorium provided by the banking system, reflecting an inherent recovery sentiment.
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