French economist Thomas Piketty urges India to tax its super-rich to mitigate inequality. At a Delhi event, he proposed taxing fortunes above 100 million rupees. The government's economic adviser disagreed,

French economist Thomas Piketty has called on India to impose higher taxes on its wealthiest citizens as a step toward reducing inequality. He proposed introducing a 2 per cent annual wealth tax on individuals with assets over Rs 100 million ($1.

India abolished its wealth tax in 2015 and has resisted calls to reintroduce it. Finance Minister Nirmala Sitharaman has argued against an inheritance tax, citing potential burdens on the middle class.

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. Speaking at the same event, the Indian government's chief economic adviser, V. Anantha Nageswaran, opposed Piketty's call, saying higher taxes could lead to higher overflows.

French economist Thomas Piketty urged India to tax the super-rich to address inequality, advocating a 2% wealth tax and a 33% inheritance tax.

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