In the throes of the Lok Sabha elections and the ensuing uproar over asset division, Sam Pitroda, President of the Indian Overseas Congress, has ignited controversy with his statement on the Inheritance Tax, prompting the BJP to launch an attack.
Senior Congress leader Rahul Gandhi had recently proposed an audit, post-elections, to assess individual wealth. When Pitroda was queried about this, he referenced the Inheritance Tax prevalent in the United States.
Pitroda remarked that the US government lays claim to 55% of the wealth, suggesting that it should be left to the public. He iterated that in America, if someone possesses assets worth $10 million, upon their passing, 45% is inherited by their children, while 55% goes to the state.
He espoused the view that such a compelling law requires your bounty, amassed during your lifetime, to be bequeathed to the people — not all, but a rightful half. However, no such law exists in India. He pointed out that in India, if someone dies holding 10 billion rupees in assets, it all passes to their children, leaving nothing for the public. Pitroda believes such topics should be a subject of national dialogue, unsure of the conclusion such discussions might yield. He discusses new policies and programs that ought to serve the people, not just the affluent.
Amit Malviya, a BJP spokesperson, has countered, arguing that Congress is intent on devastating the nation, accusing Pitroda of advocating for a 50% inheritance tax. He claims this would mean, under a Congress regime, hard-earned assets would be forcefully halved, in addition to current tax obligations increasing. Assam's Chief Minister Himanta Biswa Sarma also retaliated by saying that the family advisor is divulging their true intent — to systematically plunder your hard-earned money.
Rahul Gandhi promised that his administration would execute a comprehensive census, delineating the distribution of wealth among different societal classes. According to Gandhi, the country's reflection shows predominant ownership and positions of privilege do not include the backward classes, Dalits, tribals, minorities, or the impoverished among the general caste. He pledged to manifest the rightful share for these communities in every facet of the nation's institutions once in power.
