Union Finance Minister Nirmala Sitharaman on Friday said India’s progress in the last ten years will go to “zero” if is implemented and the country will go back to the era when Congress imposed a 90% tax.
The senior BJP leader stated that the inheritance tax directly hits the middle and aspirational classes as their hard work is saved in small savings from which they buy a house. “All this is going to be exposed to the so-called property tax,” she told media persons.
“It (Inheritance Tax) directly hits the and aspirational class. They work hard, sweat and toil of theirs are saved in small savings here and there, or they buy a house, and keep some ,” the minister said.
“If such wealth creators are going to be punished purely because they have some money kept behind, India’s progress in the last ten years would just go for a zero. And we’ll probably be going back to that era when Congress imposed a 90% tax,” she added.
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