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Billionaire Tax: Now billionaires tax will be imposed on the rich, Congress made this demand before the budget, know the details

Billionaire tax latest news: There is a heated atmosphere in the Lok Sabha before the budget. Let us tell you, just a week and a half before the release of Budget 2024-2025 (Budget 2024-2025), Congress has put forward the demand of imposing a separate tax on billionaires in the country. In fact, it can also be discussed in the G20 meeting going to be held this month (Income tax new changes). Let us know in detail in the news how much will this billionaire tax be-

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Breaking News, Digital Desk- There has been a debate going on for years on imposing a separate tax on the rich to bridge the gap of economic inequality. Gradually this debate is also intensifying in India. 

Recently, this issue also came to the fore during the Lok Sabha elections (Union budget 2024). Now before the full budget of the financial year 2024-25, once again the issue (billionaire tax update) is at the center of discussion. The main opposition party Congress has asked the government to clarify its stand, demanding the imposition of billionaires tax on billionaires.

1.5 lakh crore can be available every year

Clarifying his party's stand on this issue, Jairam Ramesh, spokesperson of the main opposition party Congress, said on Friday that if Billionaires Tax is imposed in India, then it can easily fetch Rs 1.5 lakh crore every year to the government treasury (new tax rules 2024). 

The government can use that amount to build more schools in the country, open new hospitals and on other social development schemes.

This is the proposal of Billionaires Tax

Congress spokesperson says- There seems to be a consensus on Billionaires Tax all over the world. Brazil, which is currently chairing the G20, has prepared a proposal regarding this, which has been supported by countries like France, Spain, South Africa and Germany. 

The world is moving towards imposing Billionaires Tax (Billionaire tax latest news) at the rate of 2 percent on billionaires. The G20 meeting is going to be held this month. In such a situation, Prime Minister Narendra Modi should clarify his government's stand on this proposal.

Indians are also supporting

This is not the first time that there has been talk of imposing a separate tax on the rich in India. Recently, a survey conducted just after the Lok Sabha elections revealed that most Indians are also in favor of super rich tax or billionaires tax. 

A survey conducted by Earth For All and Global Commons Alliance (billionaire tax kya hai) revealed that 74 percent Indians believe that it is appropriate to impose super rich tax on the rich to eliminate economic inequality. That means 3 out of every four Indians are in favor of imposing super rich tax. Whereas in G20 countries, the share of such people is 68 percent.

Brazil may bring a joint declaration

If we look at the global level, the demand for super rich tax has been gaining momentum since at least 2013 and discussions are going on continuously about it. After Covid, as the gap of economic inequality has widened, talks on measures to bridge it have also increased. 

Brazil, which is currently chairing the G20, is more vocal on the super rich tax. Brazil is making efforts towards bringing a joint declaration on super rich tax in the meeting of the finance ministers of the G20 countries to be held this month.