News Brief
Congress Ki Loot, Zindagi Ke Saath Bhi, Zindagi Ke Baad Bhi: PM Modi Tears Into Inheritance Tax Proposal At Chhattisgarh Rally
PM Modi
Addressing an election rally in Chhattisgarh's Sarguja, Prime Minister Narendra Modi on Wednesday (24 April) attacked Congress over Sam Pitroda's statement about US-like inheritance tax in India.
In an interview with news agency ANI, Sam Pitroda, close aide of Rahul Gandhi and president of the Overseas Congress, had advocated for a US-like inheritance tax in India.
"...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 per cent to his children, 55 per cent is grabbed by the government," Pitroda said.
"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," he said.
Attacking Pitroda over the statement, PM Modi said, "A while ago, an advisor to the prince of the royal family had stated that more taxes should be imposed on the middle class. Now, they have taken this even further. Congress now says that it will impose an Inheritance Tax. Tax will be now impose by the party on inheritances received from parents".
"The property you accumulate through your hard work will not go to your children. The Congress' hand (the party's election symbol) will also rob that from you," he said.
"Congress ka mantra hai - Congress ki loot zindagi ke saath bhi aur zindagi ke baad bhi (The mantra of the Congress is - Congress' plunder persists during life and even after life)," PM Modi added.
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