New Delhi, March 28: Ahead of the Lok Sabha elections 2019, Congress president Rahul Gandhi on Thursday promised to abolish Angel Tax on startups. Currently, angel tax is charged at a maximum rate of 30%. Gandhi also assured that if the Congress comes to power, then new ventures will not require any regulatory permissions for three years and will get easy access to bank credit.

The Congress president tweeted about the benefits his party would provide to entrepreneurs if it is voted to power. He said that solid incentives and tax credits would be given to budding entrepreneurs based on how many jobs they create apart from providing easy bank credit. Rahul Gandhi Congratulates DRDO For Mission Shakti, Mocks PM Modi by Wishing Him 'Happy Theatre Day'.

Rahul Gandhi's tweet:

Earlier, Gandhi in an interview to PTI said, “Why should only Nirav Modi get thousands of crores? How many jobs has he created in India? Why can’t a youngster who wants to start a business, who wants to give India 2,000 jobs, get a bank loan.” He also promised that his party would include all these things in its manifesto.

Former Union Finance Minister P. Chidambaram heads the party’s manifesto committee that is giving final touches. The panel has held several rounds of consultations in at least 150 locations across the country in the last several months in the run-up to polls.

Earlier this week, the Congress president also committed that those earning below Rs 12,000 annually will get minimum income support of Rs 6,000 per month. Gandhi added that the move to provide Rs 72,000 annually to poor families would benefit 20 percent of the poor population in India. Gandhi said that the minimum income of an Indian per year must at least be Rs 12,000 per month.

(The above story first appeared on LatestLY on Mar 28, 2019 08:18 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).