Rajiv Wanted To Save Indira's Wealth: PM

Prime Minister Narendra Modi on Thursday alleged that former PM Rajiv Gandhi had abolished inheritance tax in 1985 after his mother Indira Gandhi’s death to save her wealth from going to the government, as he continued his relentless attack on the Congress over wealth redistribution and inheritance tax.

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Modi also claimed at a poll rally in Morena in Madhya Pradesh that after benefitting from the abolition of estate duty--a levy imposed on inherited movable and immovable assets, the Congress now wants to bring back the levy.

As the political slugfest over the issue of inheritance tax escalated on the eve of the second phase of the Lok Sabha polls, the Congress hit back at Modi, calling his remarks on Rajiv Gandhi “lies”. The opposition party also cited the then finance minister V P Singh’s budget speech in 1985 on scrapping of inheritance tax.

If the Congress comes to power, it will snatch more than half of the earnings of the people through inheritance tax, Modi claimed.