As the Lok Sabha elections approach, the topic of inheritance tax has sparked political debate across the country. There is political turmoil in the country regarding distribution of property. BJP alleges that if Congress comes to power, it will survey the property of the countrymen. Economist Gautam Sen said that a scheme like property survey will not work in India. The same distribution of wealth will bring the country’s economy to a halt. He said that Modi government took many steps for the development of the poor.
Congress manifesto controversy:
The Congress manifesto talked about conducting economic and caste surveys at the national level. Congress said that steps will be taken based on the information received from this survey. In which policy decisions will be taken on the basis of the collected data. Although Congress denies any explicit mention of inheritance tax, the debate continues amid rising political tensions.
Opinion of expert economist Gautam Sen:
Meanwhile, economist Gautam Sen, while talking to news agency ANI, said that the scheme of distribution of wealth is not going to work in India. He said that only about 12 crore people have assets worth more than Rs 102 crore. But almost all of them have invested in their businesses. At the same time, due to distribution of property, the lives of 98 to 99 percent of the people of the country will be adversely affected.
#WATCH | On Congress leader Rahul Gandhi’s idea of redistribution of wealth, economist Gautam Sen says, “…It won’t work in India…As I said, only about 12 crore people have wealth in the excess of 102 crores each. But almost all of these have invested in their businesses. So,… pic.twitter.com/69SAmZ8iSu
— ANI (@ANI) May 8, 2024
Economic implications: Gautam Sen further said, “If people who run shops and do small businesses in the country, their property is divided, the country’s economy will come to a halt. To distribute the country’s wealth, you have to conduct a survey every two years.” In the last 10 years, we can actually see the distribution of wealth, where roads have been built, toilets have been built, and gas subsidies have been given.
BJP’s election strategy:
While inheritance tax remains a controversial issue, the BJP has taken it as a central theme in its election rhetoric. By framing the debate around property rights and economic stability, the party aims to sway public opinion in its favor ahead of the upcoming elections.