Source: Economic Times
As if people aren't already leaving the country by tens of thousands. Now they want it to be millions
This will affect the few people who own too much. It's mostly the salaried people who leave India and one of the main reasons for that is they are taxed heavily yet living conditions are still poor while those who own assets, the billionaires are not taxed anywhere close to the same rate. The new wealth tax should alleviate some of the load from the middle class and make the distribution more fair. A land tax could also be a nice addition.
Congress is literally the worst opposition any country could ever had.
Never thought it's wrong to work hard now.
Ideally this should be the case.
But for a country like India, with so much corruption at every level, this should be executed.
Congress is not creating this demand out of concern for the people. They have innately created the narrative of crony capitalism and they are cashing on this narrative to further make sure people eventually hate the rich because they have more money.
It will eventually result in India losing out on indigenous ways of disrupting different markets like telecom, air travel which require heavy investment and it will eventually slow down investments into different projects in the country.
**this should not be executed.
I have point is politicians and their immediate families are also part of wealth tax and Inheritance tax in India
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