Budget 2022: India to join a small group of countries with digital currency

Till now, only nine of the 91 countries have launched a central bank digital currency

On Tuesday, in her Budget speech, the finance minister announced that India shall launch a digital currency in 2022-23.

“It is, therefore, proposed to introduce Digital Rupee, using blockchain and other technologies, to be issued by the Reserve Bank of India starting 2022-23,” said FM Nirmala Sitharaman, pointing out that a digital currency will give a boost to the digital economy.

India shall be a part of a small group of countries with a digital currency. Data from Atlantic Council shows that until January 2022, only nine of the 91 countries which had envisaged a plan to launch digital currency