‘Do the communist revolution…’: Raghuram Rajan challenges Thomas Piketty’s wealth tax suggestion for India

Former RBI governor Raghuram Rajan questions the effectiveness of traditional redistributive taxes, like wealth and inheritance taxes, as they can be avoided by the wealthy.

Rajan’s view contrasts with economist Thomas Piketty’s proposal for a 2% tax on net wealth over Rs 10 crore and a 33% inheritance tax to address increasing inequality in India.