FM Nirmala Sitharaman Says Congress 'Plan To Bring Inheritance Tax Aims To Hit Middle Class'

The BJP's 'inheritance tax' attack on the Congress stems from remarks made by Indian Overseas Congress chairman Sam Pitroda in an interview to ANI.

File photo of Finance Minister Nirmala Sitharaman

Source : PTI

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday alleged the Congress party planned to introduce an inheritance tax, adding that it would adversely affect the middle and aspirational classes by hindering their ability to pass on their savings to their children. Sharing a video clip of Prime Minister Narendra Modi's speech at a rally in Chhattisgarh on X, she said, "If the Congress comes to power, 'organised loot and legalised plunder' will be seen in action".

“So, the @INCIndia plan is: While living—Tax. On death —Tax (Inheritance). Aims to hit the middle and aspirational classes. Their savings or small holdings shall not go their children,” Sitharaman said. The post further said "Dr MMS’ (former PM Manmohan Singh) 'organised loot and legalised plunder' will be seen in action. Congress’ #TaxTerrorism." 

तो, @INCIndia की योजना है:
जीते जी - कर
मृत्यु पर - कर (विरासत)
इसका उद्देश्य मध्यम और आकांक्षी वर्ग को चोट पहुंचाना है। उनकी बचत या संपत्ति उनके बच्चों के पास नहीं जाएगी।

डॉ. मनमोहन सिंह का "संगठित लूट और विधि-सम्मत डाका" कार्रवाई में दिखेगा ।
कांग्रेस का #टैक्सटेररिज्म pic.twitter.com/pMfhgzpbNO

— Nirmala Sitharaman (Modi Ka Parivar) (@nsitharaman) April 24, 2024

The BJP's "inheritance tax" attack on the Congress stems from remarks made by Indian Overseas Congress chairman Sam Pitroda. In an interview to ANI, Pitroda appeared to back the concept of wealth redistribution, and hailed the US' policy of inheritance tax as "fair".  The Congress has distanced itself from the remarks and Pitroda has claimed his statement is being sensationalised and taken out of context.

Pitroda defended his remarks on X, saying, "It is unfortunate that what I said as an individual on inheritance tax in the US is twisted by Godi media to divert attention from what lies the PM is spreading about the Congress manifesto. PM's comments on Mangal Sutra and gold snatching is simply unreal".

It is unfortunate that what I said as an individual on inheritance tax in the US is twisted by Godi media to divert attention from what lies PM is spreading about Congress manifesto. PM’s comments Mangal Sutra & gold snatching is simply unreal.

— Sam Pitroda (@sampitroda) April 24, 2024

Pitroda clarified that his mention of the US inheritance tax during a TV conversation was merely an example to facilitate discussion and debate, emphasising the importance of factual dialogue. He said that his remarks were not indicative of any policy stance by any party, including the Congress.

I mentioned US inheritance tax in the US only as an example in my normal conversation on TV. Can I not mention facts ? I said these are the kind of issues people will have to discuss and debate. This has nothing to do with policy of any party including congress.

— Sam Pitroda (@sampitroda) April 24, 2024

During his rally in Chhattisgarh, PM Modi indirectly addressed the controversy, attributing "dangerous intentions" to the Congress party. Without directly naming Pitroda, Modi criticised the notion of imposing inheritance tax on properties passed down to one's children, suggesting it was evidence of the Congress' alleged agenda, reported PTI.