Bengaluru: On April 26, Union Finance Minister Nirmala Sitharaman went to a polling place at BEs College in Bengaluru to cast her ballot. She stressed the importance of sound policies and a stable government after casting her ballot.
"I want an increasing number of individuals to cast ballots... People are clearly coming out because, in my opinion, they want a stable government, sound policies, advancement, and development. Sitharaman stated, "They want to see PM Modi serve out his whole term.
She also attacked the Congress, saying that their support for a measure similar to an inheritance tax might undo the gains India has made in the last ten years.
"I recall a mandatory deposit program that was in place earlier in 1968, where deposits had to be between 18% and 20% of total. Something was removed. At the time, no explanation was provided. If individuals who create riches are to be penalized just for having some money withheld, India's advancement over the past ten years will come to a complete standstill. And it's likely that we'll be returning to the time when Congress levied a ninety percent tax. It is unlikely that you will accept that members of the present generation have no memory of it at all. In that India, when the Congress Party was in power, we were required to pay taxes totaling ninety percent of our earnings. The Congress party is at ease with that socialist concept," the speaker stated.
Sitharaman added that the middle class and the aspirational class are directly impacted by the inheritance tax.
"The middle class is directly impacted by it (the inheritance tax). It strikes the aspirational class squarely. They put in a lot of labor, and the sweat and tears they accumulate are either saved in little amounts here and there or used to purchase their dream home and maintain fixed deposits. The so-called property tax will apply to all of this, she informed the reporters.
"Because they have no issue on their own in order to say 'this is what we will do for the people of India, take India forward, bring opportunities for the youth, take India in a global leadership role,' they have none of these positive agendas to speak about," Sitharaman said, accusing the Congress party of deliberately targeting Prime Minister Narendra Modi. As a result, they are continually criticizing the prime minister, making personal assaults, and, worse still, introducing ideas that they are unable to carry out.
A debate started when Indian Overseas Congress Chairman Sam Pitroda mentioned the idea of the inheritance tax that is in place in America and stated that these are topics that will need to be debated, all the while highlighting the necessity for a strategy towards wealth redistribution.
The Congress party, however, has disassociated itself from the comments and asserted that the party's position is not reflected in the inheritance tax rules.
