Prime Minister Narendra Modi has indicated in a mega exclusive interview to News18 Network that the Bharatiya Janata Party (BJP) would never be on board the concept of inheritance tax. Speaking to Network18 Group Editor-in-Chief Rahul Joshi, Prime Minister Modi said the BJP’s vision for the country is clearly laid out in its manifesto and indicated that inheritance tax is not remotely part of it.
“What the Bharatiya Janata Party (BJP) plans to do is written in our manifesto… The ideology of the BJP is clear. We go before the country with our manifesto and works. Please don’t impose their great thoughts on us,” he said, referring to Congress leader Sam Pitroda’s remarks on inheritance tax.
Pitroda, US-based president of the Congress’s overseas wing, had recently spoken about inheritance tax in the US while delving into the issue of redistribution of wealth. The Congress swung into damage control, distancing itself from the comments but the remarks have since snowballed into a major election issue in the ongoing Lok Sabha polls.
“How does the thought that we will carry forward their plan even come to your mind?” the Prime Minister exclaimed during the interview to News18 Network.
“I am talking about development and inheritance and they are talking of plundering that inheritance. Their history till date is about doing what they have mentioned in the manifesto. It is my responsibility to tell the countrymen that they are taking the country in this direction. Now you decide whether you want to go or not. But it is my responsibility that on the basis of facts and importance, I should tell you [the truth].”
Talking about the BJP manifesto for the Lok Sabha elections, PM Modi said his vision is focused on welfare of the society and last-mile delivery of schemes.
“My entire election campaign is focused on two things. One, we have done work for the welfare of society. The biggest difference in this government [compared to previous ones] is that last-mile delivery is our specialty. See, no government is formed to do bad, it wants to do good. Some people know how to do good for others, some people wait for good things to happen. I am a person who believes in working hard and getting things done,” PM Modi said.
In recent election rallies, the PM has highlighted Pitroda’s comments on “wealth redistribution”, saying “zindagi ke saath bhi, zindagi ke baad bhi” is the opposition party’s mantra to “loot” people.
He said the comments have exposed the Congress’s hidden agenda and that the party has become so removed from the country’s social and family values that it wants to legally rob people of their assets and lifelong savings they want to bequeath to their children.
Inheritance tax, also known as estate tax, is a tax levied on the total value of money and property of a deceased person before it is distributed to their legal heirs. In India currently, there is no inheritance tax.
When a property is inherited, in India, the tax liability arises not at the time of inheritance, like in Japan, the UK or the US. In India, the tax liability arises only when the inherited property is sold and a capital gain or some form of profit or income or revenue is derived by the inheritor.
Policy experts have repeatedly stressed that inheritance tax isn’t a good idea for a developing country like India, citing the country’s past experiment under the Nehruvian era.
Check Lok Sabha Election 2024 Phase 3 Schedule, Key Candidates And Constituencies At News18 Website.
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