BJP’s Amit Malviya slams Congress after Sam Pitroda backed party's stand on redistribution of wealth
New Delhi : BJP IT Cell chief Amit Malviya on Wednesday came down heavily on the Congress party after Chairman of Indian Overseas Congress Sam Pitroda backed the party's stand on redistribution of wealth, saying "Congress has decided to destroy India."
In a post on X, Amit Malviya said, "Congress has decided to destroy India. Now, Sam Pitroda advocates a 50 percent inheritance tax for wealth redistribution. This means 50 percent of whatever we build, with all our hard work and enterprise, will be taken away. 50 percent, besides all the tax we pay, which too will go up, if Congress prevails."
Congress has decided to destroy India. Now, Sam Pitroda advocates 50% inheritance tax for wealth redistribution. This means 50% of whatever we build, with all our hard work and enterprise, will be taken away. 50%, besides all the tax we pay, which too will go up, if the Congress… https://t.co/4ojS3ZtSRL — Amit Malviya (मोदी का परिवार) (@amitmalviya) April 24, 2024
Pitroda highlighted the necessity for policies addressing wealth redistribution, drawing attention to the inheritance tax system in the United States. He noted that in America, when someone with $100 million worth of wealth passes away, only around 45 percent can be transferred to their children, with the remaining 55 percent going to the government. Pitroda deemed this law equitable, asserting that it signifies a responsibility to leave a portion of accumulated wealth for the public good.
He contrasted this with India's lack of such a tax, emphasizing that in India, individuals can pass on their entire wealth to their heirs without any obligation to contribute to the public welfare. Pitroda stressed the importance of debating and implementing new policies aimed at benefiting the broader population rather than solely serving the interests of the ultra-rich.
Furthermore, Pitroda framed wealth distribution as a crucial policy matter, expressing concern over Prime Minister Modi's response to the Congress manifesto. He suggested that the Congress party would formulate policies to enhance wealth distribution, potentially including initiatives like establishing a minimum wage to ensure fair compensation for labor.
However, BJP spokesperson Shehzad Poonwala criticized the Congress's stance, characterizing it as an attempt to seize the hard-earned resources of the people. He argued that proposing a system akin to an inheritance tax would effectively confiscate significant portions of individuals' assets upon their demise, regardless of their livelihoods as farmers or businesspeople. Poonwala accused the Congress of hypocrisy, pointing out the wealth accumulation within the Gandhi Vadra family while advocating for redistributive policies.
As of now, India does not have an inheritance tax system, having abolished the Inheritance or Estate Tax in 1985.
- With inputs from agencies
