AGL 39.00 Decreased By ▼ -0.33 (-0.84%)
AIRLINK 203.51 Increased By ▲ 13.57 (7.14%)
BOP 10.12 Increased By ▲ 0.61 (6.41%)
CNERGY 7.14 Increased By ▲ 0.02 (0.28%)
DCL 9.98 Decreased By ▼ -0.24 (-2.35%)
DFML 41.33 Decreased By ▼ -0.35 (-0.84%)
DGKC 106.00 Decreased By ▼ -3.82 (-3.48%)
FCCL 37.20 Decreased By ▼ -0.96 (-2.52%)
FFBL 93.51 Decreased By ▼ -2.75 (-2.86%)
FFL 14.91 Increased By ▲ 0.02 (0.13%)
HUBC 135.71 Increased By ▲ 6.88 (5.34%)
HUMNL 14.19 Decreased By ▼ -0.33 (-2.27%)
KEL 6.02 Decreased By ▼ -0.17 (-2.75%)
KOSM 7.87 Decreased By ▼ -0.12 (-1.5%)
MLCF 48.60 Decreased By ▼ -1.38 (-2.76%)
NBP 73.50 Increased By ▲ 1.07 (1.48%)
OGDC 227.30 Decreased By ▼ -5.99 (-2.57%)
PAEL 38.28 Increased By ▲ 3.16 (9%)
PIBTL 9.55 Increased By ▲ 0.19 (2.03%)
PPL 207.99 Decreased By ▼ -3.41 (-1.61%)
PRL 40.17 Increased By ▲ 3.65 (9.99%)
PTC 26.60 Increased By ▲ 0.56 (2.15%)
SEARL 115.00 Increased By ▲ 0.20 (0.17%)
TELE 9.30 Decreased By ▼ -0.11 (-1.17%)
TOMCL 38.25 Decreased By ▼ -0.35 (-0.91%)
TPLP 13.62 Increased By ▲ 0.83 (6.49%)
TREET 26.15 Increased By ▲ 0.17 (0.65%)
TRG 61.03 Decreased By ▼ -0.97 (-1.56%)
UNITY 35.00 Decreased By ▼ -0.57 (-1.6%)
WTL 1.94 Increased By ▲ 0.02 (1.04%)
BR100 12,402 Increased By 54.8 (0.44%)
BR30 39,161 Increased By 61.4 (0.16%)
KSE100 115,921 Decreased By -248.6 (-0.21%)
KSE30 36,528 Decreased By -130.6 (-0.36%)

NEW DELHI: India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday.

The writer of the best-selling book “Capital in the 21st Century” called on India to follow through on a July pledge by finance ministers from the Group of 20 major economies to cooperate on effectively taxing the world’s largest fortunes.

“India should be active in taxing the rich,” Piketty said at an event organised by Delhi-based think tank Research and Information System for Developing Countries (RIS) and the Delhi School of Economics.

He said India could raise annual revenue worth 2.73% of its gross domestic product by imposing a 2% wealth tax on people with assets of more than 100 million rupees ($1.18 million), and a 33% inheritance tax on property worth at least the same amount.

The proportion of national income held by the top 1% richest Indians now surpassed that of their counterparts in the United States and Brazil, Piketty said, citing a 2024 report he co-authored, published by the World Inequality Lab.

In 2022-23, he added, the richest 1% of India’s population controlled 22.6% of the national income and held 40.1% of the nation’s total wealth.

Comments

200 characters