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'Not More Than 5,000 People in Super-Rich Category': Nirmala Sitharaman Justifies New Taxation Policy

Stressing that the super-rich should shoulder part of the government's responsibility in supporting the poor, the Finance Minister said it is not highway robbery or done with the intention to affect their business.

IANS

Updated:July 21, 2019, 8:30 AM IST
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'Not More Than 5,000 People in Super-Rich Category': Nirmala Sitharaman Justifies New Taxation Policy
File photo of Finance Minister Nirmala Sitharaman.
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Chennai: Finance Minister Nirmala Sitharaman on Saturday said the tax on the super-rich is a small expectation from them to contribute a little more for the poor.

She was here to inaugurate the International Business Conference of Nagarathars organised by the Nagarathar Chamber of Commerce.

Sitharaman said not more than 5,000 people are there in the super-rich category in the country and the Union Budget 2019-20 has several measures to help start-ups.

Stressing that the super-rich should shoulder part of the government's responsibility in supporting the poor, she said it is not highway robbery or done with the intention to affect their business.

Appreciating Indian corporates for creating wealth and jobs, Sitharaman said over the past 60 years we have spoken about our rights but kept our duties to the minimum. She said the poor are doing their duty without any returns and hence the government is providing them free education, health and other benefits.

Sitharaman said the focus of the budget is to provide the youth with the necessary support from the government, banks and others for doing business. According to her, the central government is focused on ease of living and also on ease of doing business.

On her carrying her budget papers in a swadeshi `bahi khata' and giving up the traditional briefcase, Sitharaman said the central government is not a suitcase carrying government. She said a suitcase denotes taking and giving of suitcases, alluding that suitcases contain bribe money.

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