Congress misplaced.

Congress attacks on Ambani-Adani won’t fly; nature of wealth has changed

Sam Pitroda can help Congress by holding his silence; enough damage

Prashun Bhaumik | New Delhi | 25 April, 2023 | 10:40 PM

Pitroda has been around for a long time and is generally regarded as a thoughtful and serious man whose finest moment may have come when he built STD phone booths during the Rajiv Gandhi years. But, I suspect that with the passing of time, he has forgotten many of the things that happened during the Rajiv government. One of them was the abolition of inheritance tax (or ‘estate duty’) in 1985. The Rajiv Gandhi government had done the sums and discovered that it cost more to collect inheritance tax than the total receipts from the tax. The law was a holdover from Indira Gandhi’s ‘Garibi Hatao’ days, and as Rajiv worked to erase memories of that socialist period, he recognised that inheritance tax served no purpose.