World Inequality Lab proposes an annual wealth tax & inheritance tax for ultra-wealthy Indians, aiming to reduce wealth concentration and generate revenues for redistributive policies and public spending.

The World Inequality Lab proposes an annual wealth tax & inheritance tax for ultra-wealthy Indians, with a 2% annual tax on net wealth over Rs 10 crore and a 33% inheritance tax on estates above the same threshold. This tax package aims to reduce wealth concentration, generate 2.73% of GDP in revenues, and invest in redistributive policies for the poor, lower castes, and middle classes. The taxes could potentially double public spending on education and other social sectors.