The standard of living is not that great there are many Indians who are living in poverty with such high taxes you would expect the impact would be felt in the Indian societies.
If you are not giving us money then we don't care that's what the attitude from our finance minister and also most government treat their citizens in that way.
India is having that high tax is to avoid people investing not to make more revenue and don't want to make any more money than they should and obviously not interested in their people getting better and achieve financial success with complete censorship resistance tool like bitcoin.