French economist Piketty urges India to implement wealth and inheritance taxes to reduce inequality, facing domestic opposition.

French economist Thomas Piketty recommends India impose a 2% wealth tax on assets over 100 million rupees and a 33% inheritance tax to address high inequality, suggesting it could raise 2.73% of GDP. However, India's chief economic adviser V. Anantha Nageswaran opposes, arguing higher taxes could lead to capital outflows. India abolished its wealth tax in 2015 and has rejected calls for its return.

3 months ago
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