I am not getting it what is the loss of using inheritance in smart contract development.
sudhir meena
1

Cannot speak on behalf of the Vyper team, but the Rust Book explains the arguments against inheritance nicely.
(Rust does not support inheritance, and instead adopts “Traits” for extending objects):

Inheritance has recently fallen out of favor as a programming design solution in many programming languages because it’s often at risk of sharing more code than necessary. Subclasses shouldn’t always share all characteristics of their parent class but will do so with inheritance. This can make a program’s design less flexible. It also introduces the possibility of calling methods on subclasses that don’t make sense or that cause errors because the methods don’t apply to the subclass. In addition, some languages will only allow a subclass to inherit from one class, further restricting the flexibility of a program’s design.