National Desk, 26th April: Union Finance Minister Nirmala Sitharaman delivered a robust message on April 26 while casting her vote at Bengaluru’s BEs College, expressing public support for Prime Minister Narendra Modi’s continued leadership. Sitharaman stressed the importance of a stable government and the necessity for policies fostering progress and development, aligning herself with PM Modi’s governance.
Yet, Sitharaman’s remarks extended beyond endorsing Modi’s leadership; she also took a swipe at the Congress party for advocating an inheritance tax-like law. Sitharaman cautioned that such a tax could reverse India’s progress over the last decade, citing historical instances like the compulsory deposit scheme of 1968 and the 90% tax rate imposed during Congress rule. She cautioned against policies penalizing wealth creators, warning of their potential to impede the nation’s growth trajectory.
Sitharaman underscored the impact on the middle class and aspirational segments of society, noting that the proposed inheritance tax would directly affect those who diligently save and invest. She cautioned that such a tax could subject their assets to additional taxation, particularly targeting their savings and investments, such as fixed deposits and homes.
Furthermore, Sitharaman criticized the Congress party for resorting to personal attacks on Prime Minister Modi due to a lack of positive agendas. She lambasted the opposition for failing to present constructive plans for the nation’s advancement, instead focusing on undermining the Prime Minister through unfounded allegations and impractical proposals.
The Finance Minister’s remarks come in the midst of controversy sparked by Sam Pitroda, Chairman of the Indian Overseas Congress, who referenced the inheritance tax prevalent in America while discussing the need for wealth redistribution policies. However, the Congress party swiftly distanced itself from Pitroda’s comments, clarifying that inheritance tax laws do not reflect the party’s official stance.
As the Lok Sabha election intensifies, Sitharaman’s vocal support for stability under PM Modi’s leadership and her critique of Congress’ economic proposals set the stage for a spirited debate on the nation’s future direction and economic policies.’