Indian govt officials are yet to understand the power and potential of cryptocurrencies. Many countries have already understood and adapted bitcoin, but in India, the govt is still going in the wrong direction, as always. They always take time to adapt to a new technology, unlike other countries. They do so because then the quaint and quasistatic schemes like PPF, FD, KVP will come to an end as everyone wants to earn more and more.
The govt based 'investments' are not actually investments, but the financial institutions play with our money and earn more while giving us only a fraction, in the name of 'security'. I believe that money which only 'you' have full control on, is fully secured,but not even with banks. Decentralization provides us with that security.
In my view, the government needs new officials, especially in the IT department and financial institutions, who are not only well educated, but are open-minded to all new paths, not like this RBI governor, who is narrow minded and unaware of the crypto revolution going all over the world, and they must reduce crypto tax to be in slabs, to be at par with the developed nations.