Yes you are right about the fact that if Indian Government goes for a Fiat based Cryptocurrency it will save a lot of Money in Printing Transportation etc but what I am worried is the Inflation.
Since it would be a Centralised Crypto they would be free to Inflate the Currency as they like and since there would be no cost for Making more Coins it makes them susceptible to the Temptation to make more Coins.
yes @arunava and also the governments change here and the new government will impose new rules, Moreover I think this dip is no normal dip. I guess some big whales and masterminds involvement over here!