Indian Finance Minister Nirmala Sitharaman’s 2024 Union Budget did not address the crypto industry’s plea for tax relief. The current tax regime, including a 30% flat tax on crypto profits and a 1% TDS on transactions, remains unchanged. Local crypto advocates had urged for a reduction in the TDS to 0.01% to stimulate market activity, but the government maintained its stringent stance, viewing crypto akin to gambling. Despite this, India continues to lead in global cryptocurrency adoption​​.