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Budget 2022: On digital currency, PM Modi explains what it’ll mean for economy

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Budget 2022: On digital currency, PM Modi explains what it’ll mean for economy

Prime Minister Narendra Modi on Wednesday said that India’s new blockchain-based digital currency will just be a virtual form of the standard Indian rupee (INR), the official currency of the country that now exists in a physical form. Just as the issuance of this currency is controlled by the Reserve Bank of India (RBI), the digital currency, too, will be regulated by the central bank, said the Prime Minister.

Modi was on this day addressing his fellow Bharatiya Janata Party (BJP) colleagues on the Union Budget 2022-23 presented by finance minister Nirmala Sitharaman. Highlighting key features of the annual financial statement, the Prime Minister said that the “people-friendly” has made adequate provisions for India’s upcoming digital currency, keeping in mind the rapidly changing financial scene that is increasingly dealing with cryptocurrencies, non-fungible tokens (NFTs), and other forms of digital assets.

Elaborating on the nature of this virtual currency, Prime Minister Modi said that it can be exchanged with its physical counterpart given that the two are equal in value but only different in form. This currency will strengthen the digital economy and boost the fintech sector, he said.

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“In today’s newspaper, there has been a lot of discussion about the central bank’s digital currency,” said the Prime Minister in his televised address to BJP party workers today. “This will strengthen the digital economy. This ‘digital rupee’ will be the virtual form of our standard physical currency and will be overseen by the RBI. It can be exchanged with physical currency.”

Stressing on the fact that the annual budget is aimed at taking forward his government’s vision over the past seven years, the Prime Minister reminded his colleagues that in the wake of the pandemic, a new world order is in the making, where many of the things from a pre-Covid society is going to change.

“Post-pandemic, things are meant to change,” he said. “India, too, is seeing itself in a new light. The world’s perspective of looking at India has also changed a lot these days. It is imperative for us to take the country forward at a rapid pace by strengthening our economy with the goal of achieving Aatmanirbharta (self-dependency).”

The Prime Minister said that it is extremely important for India, as a modern nation, to be self-reliant. The nation’s economy is “continuously expanding” in the direction of modernity, he said.

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“Digital payments will be regulated, much like standard currency is regulated by the Reserve Bank of India (RBI),” the Prime Minister said. “Such payments are more secure, efficient, and safe, and goes a long way towards paving the way for a global digital payments’ infrastructure.”

Finance minister Sitharaman had a day prior unveiled the ₹39.45 lakh crore budget, wherein she announced that India’s own digital currency will soon be a reality. The currency will be issued by the RBI in 2022-23 using blockchain technology, the minister said, adding it will boost the digital economy.

Notably, the RBI had said in July last year that it was working towards its own digital currency. Calling it the Central Bank Digital Currency (CBDC), RBI deputy governor T Rabi Sankar had said that it will be the same as a fiat currency and that it will be exchangeable one-to-one with the fiat.

He had further said that CBDC is not comparable to the private virtual currencies that have mushroomed over the last decade. Private virtual currencies sit at substantial odds with the historical concept of money, Sankar added.

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The RBI has held on multiple occasions the opinion that cryptocurrencies like BitCoin, Ethereum, and Dogecoin – among many others – pose a risk to financial stability. The central bank has also questioned the crypto market value, asking investors to not get “lured” by the promises of lucrative returns on these digital assets.

Complete News Source : HIndustan times

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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