Talking about Prime Minister Narendra Modi’s “wealth distribution” remark, Chairman of Indian Overseas Congress, Sam Pitroda on April 24 explained that when Congress talks about redistributing wealth, it means new policies and new programs that are in the interest of the people and not in the interest of super-rich only. "...In America, there is an inheritance tax. If one has $100 million worth of wealth and when he dies he can only transfer probably 45% to his children, 55% is grabbed by the government. That's an interesting law. It says you in your generation, made wealth and you are leaving now, you must leave your wealth for the public, not all of it, half of it, which to me sounds fair. In India, you don't have that. If somebody is worth 10 billion and he dies, his children get 10 billion and the public gets nothing...So these are the kind of issues people will have to debate and discuss. I don't know what the conclusion would be at the end of the day but when we talk about redistributing wealth, we are talking about new policies and new programs that are in the interest of the people and not in the interest of super-rich only," said Sam Pitroda.
24 April,2024 08:50 PM IST
Uttar Pradesh Chief Minister Yogi Adityanath launched an all-out attack on the Congress over Sam Pitroda’s ‘inheritance tax’ remark. CM Yogi Adityanath accused the Congress government rule for decades of giving benefits selectively. CM Yogi alleged that Congress and INDIA bloc want to take back the country to the times of terrorism and appeasement politics.
24 April,2024 08:27 PM IST
At a public event in Surguja, Chhattisgarh, Prime Minister Narendra Modi reacted to Sam Pitroda's remarks about "inheritance tax." Modi stated, "The advisor to the royal family's prince and the prince's father said that more taxes should be levied on the middle class. But now, the Congress has taken it a step further by proposing an inheritance tax. They want to tax what you inherit from your parents. The property you've earned through your hard work may not go to your children because Congress could take it away. Congress will increase taxes while you're alive and, once you're gone, burden you with inheritance taxes. Those who treated the Congress party as their family property and passed it down to their children now want to deny Indians the same right to pass on their property to their children," explained Prime Minister Modi.
24 April,2024 03:34 PM ISTADVERTISEMENT
