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A former adviser to Rajiv Gandhi, once face of telecom revolution, 81-yr-old Pitroda heads the Congress’s overseas wing and remains close to the family
Karnataka BJP leader Ganesh Karnik has strongly criticized Sam Pitroda, the chairman of the Indian Overseas Congress, for advocating a US-like ‘inheritance tax’ in the country, saying that “he is illiterate.”
Rahul Gandhi on ‘financial surveys’ and ‘revolution,’ Pitroda’s idea on inheritance are bad economics -- and bad politics, too.
The Congress refuted Prime Minister Narendra Modi's claims that former PM Rajiv Gandhi abolished inheritance tax to safeguard his family's wealth. Modi alleged that Congress now aims to reintroduce inheritance tax if in power. Congress leader Jairam Ramesh countered, citing Finance Minister VP Singh's 1985 budget speech where estate duty was abolished to ease procedural hassles and inefficiencies, not to preserve wealth.
For the BJP, already flagging what it calls the Congress’s “appeasement politics and economics,” it has now alleged that the growing middle class are threatened by such policy prescriptions, that their wealth too would be “grabbed” by the government.