But one thing I could not understand, they are asking to "level the playing field" as per the writers of this article - however who are they competing against? and for what? Or am I missing something here?
The BWA comprises of mainly Indian exchanges and some web 3 startups. They are mainly concerned about international exchanges that are still operating in India without following proper policies of the Indian government. They are trying their level best to get those users for trading back to Indian exchanges. All these exchanges are still not able to get those trading volumes as they used to get prior to capital gain tax and TDS.
That is why they are using the term "level the playing field". The outcome as per me will be that either we will see much more harsh regulation or we might see a reduction on tax. As per some media reports madam FM is in the mood to relax personal tax in the upcoming budget to lure middle class votes.