India's opposition Congress asks Modi to tax billionaires more


FILE PHOTO: Rahul Gandhi (R) and Jairam Ramesh, senior leaders in India's opposition Congress party, during a media briefing at Congress headquarters in New Delhi, India, June 6, 2024. REUTERS/Priyanshu Singh/File Photo

NEW DELHI (Reuters) - India's main opposition Congress party asked Prime Minister Narendra Modi on Friday to impose an additional tax on the country's billionaires to generate funds for stretched public services like education and health.

The annual budget will be presented by Finance Minister Nirmala Sitharaman on July 23 at a time of deepening income inequality and high unemployment despite India's world-beating economic growth of nearly 8% and booming stock markets.

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