Lok Sabha Election

Will abolish angel tax, says Rahul

Congress president Rahul Gandhi addresses an election rally in Kalaburagi on March 18, 2019.   | Photo Credit: Arun Kulkarni

Congress vice-president Rahul Gandhi, who met entrepreneurs from startups across various segments in Bengaluru on Monday, assured them that the Congress would abolish tax on angel investments that has “victimised” startups.

Interacting with an audience of nearly 600 representatives, he said, “Ängel tax goes counter to the philosophy of startups. We are going to get rid of this tax when we come to power. We will work on eliminating all the barriers that come in the way of startups and innovation.”

In a free-wheeling discussion that lasted over 90 minutes at Manyata tech park here, he also promised to simplify the Goods and Services Tax (GST) and reform e-commerce policies.

“The Congress party has a concept of GST and the concept was very simple... that is one tax for the entire nation,” Mr. Gandhi said.

Referring to Bengaluru as a city full of skills with “huge success”, he said, “There is no limit to skill. We lack accessibility as we do not harness these skills into something productive.”


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Printable version | Jan 26, 2022 7:09:29 AM | https://www.thehindu.com/elections/lok-sabha-2019/will-abolish-angel-tax-says-rahul/article26575870.ece

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