SPARKS FLY OVER PITRODA'S COMMENT ON INHERITANCE TAX

PM steps up attack on 'wealth redistribution', says 'zindagi ke saath bhi, zindagi ke baad bhi' is Oppn mantra

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Amid the war of word between Congress and BJP over redistribution of wealth, Chairman of Indian Overseas Congress Sam Pitroda has added fuel to fire by advocating an inheritance tax law in the country. Emphasing the need for policy towards wealth redistribution, Pitroda elaborated on the concept of inheritance tax prevailing in America.

Prime Minister Narendra Modi seized on Pitroda's remarks on step up the ruling BJP's blistering attack on the issue of "wealth redistribution", saying "zindagi ke saath bhi, zindagi ke baad bhi" is the opposition party's mantra to "loot" people.

"In America, there is an inheritance tax. If one has 100 million USD 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. 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," Pitroda said.

"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 kinds of issues people will have to debate and discuss. When we talk about redistributing wealth, we are talking about new policies and new programs that are in the interest of the people and not in the interest of the super-rich only," he added.

Pitroda also said that the subject of wealth distribution is strictly a 'policy issue' and he feels concerned about Prime Minister Modi after hisa remarks on Congress manifesto.