New Delhi: As a group of former Presidents and Prime Ministers raised the issue of "billionaires tax" with G20 countries, the Congress on Friday asked what is Prime Minister Narendra Modi's position on such a tax and when will India's stand be taken. The matter is to be discussed at the G20 meeting later this month.
Congress general secretary, communication in-charge, Jairam Ramesh said that there is a consensus across the world that billionaires should pay their fair share of taxes.
"Proposed by Brazil – which now holds the annual rotational G20 presidency – and supported by France, Spain, South Africa and Germany, the world is moving toward a 2 percent wealth tax on these billionaires," he said in a statement. post on x
"India has 167 dollar billionaires. A 2 per cent wealth tax would raise Rs 1.5 lakh crore every year – that's about 0.5 per cent of our GDP. This would fund schools, hospitals, renewable energy and many other essential investments in our future. The country can pay,” Ramesh said.
"What is the non-biological Prime Minister's position on the 'billionaire tax'? What will be India's position when it is discussed at the G20 meeting in Rio de Janeiro later this month?" The Congress leader said.
Ramesh also shared a media report stating that former presidents and prime ministers have sent an open letter to the current leaders of the world's 20 largest economies urging support for a global tax on billionaires.
Congress general secretary, communication in-charge, Jairam Ramesh said that there is a consensus across the world that billionaires should pay their fair share of taxes.
"Proposed by Brazil – which now holds the annual rotational G20 presidency – and supported by France, Spain, South Africa and Germany, the world is moving toward a 2 percent wealth tax on these billionaires," he said in a statement. post on x
"India has 167 dollar billionaires. A 2 per cent wealth tax would raise Rs 1.5 lakh crore every year – that's about 0.5 per cent of our GDP. This would fund schools, hospitals, renewable energy and many other essential investments in our future. The country can pay,” Ramesh said.
"What is the non-biological Prime Minister's position on the 'billionaire tax'? What will be India's position when it is discussed at the G20 meeting in Rio de Janeiro later this month?" The Congress leader said.
Ramesh also shared a media report stating that former presidents and prime ministers have sent an open letter to the current leaders of the world's 20 largest economies urging support for a global tax on billionaires.
