Congress asks PM Modi's stance as G20 debates on taxing super-rich
5 months, 1 week ago

Congress asks PM Modi's stance as G20 debates on taxing super-rich

Hindustan Times  

With the "billionaire tax" issue being discussed by G20 countries, the Congress has questioned Prime Minister Narendra Modi's position on the matter and India's stance at the upcoming G20 meet. "As proposed by Brazil -- which now holds the annual rotational G20 Presidency -- and endorsed by France, Spain, South Africa, and Germany, the world is moving towards a 2 per cent wealth tax on these billionaires," he said in a post on X. Ramesh added that India, with 167 billionaires, could generate 1.5 lakh crores annually from such a tax, funding essential public services like schools, hospitals, and renewable energy. He asked PM Modi to clarify India's position on this issue at the G20 meeting in Rio de Janeiro later this month. The letter, signed by 19 Club de Madrid members, praised US president Joe Biden's billionaire income tax proposal and said that there is the need for global cooperation to combat tax evasion by the wealthiest.

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