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Arvind Kejriwal voiced disappointment on Saturday after the Union Budget failed to include any proposal to ‘end billionaire loan waivers’. The AAP supremo also claimed that a large portion of the public exchequer was being spent on these waivers. “A large part of the country's treasury is spent on waiving off the loans of a few rich billionaires.
I had demanded that it be announced in the budget that from now on, the loans of any billionaire will not be waived off...
I am sad this was not done,” he wrote on X. The former Delhi Chief Minister also suggested that money ‘saved’ by his proposal could be utilised to waive home and vehicle loans for the middle class as well as farmers. He also opined that such funds could be used to ‘halve’ income tax and GST rates.
Finance Minister Nirmala Sitharaman presented her eighth straight budget before the Lok Sabha on Saturday — laying out a blueprint for "next-generation" reforms. The list of changes include raising the FDI limit in the insurance sector and simplification of tax laws. Sitharaman also exempted annual income of up to ₹ 12 lakh from income tax and rejigged tax slabs as part of her Budget.
Fellow party leader Sanjay Singh also voiced disappointment over the Union Budget — contending that small traders have been left out with no tax relief on their income of ₹ 12 lakh. The AAP MP also reiterated the suggestion put forth by Kejriwal — to provide relief by “recovering the ₹ 16 lakh crore loan waived for industrialists”. “What benefit are small traders getting from this, you have not given any tax relief on their income of ₹ 12 lakh.
Aam Aadmi Party's national convenor Arvind Kejriwal had demanded that if you decide that you will not waive the loans of industrialists, you will not waive the loans of your capitalist friends and you recover the loan of ₹ 16 lakh crore that has been waived so far, then the GST rates and income tax rates in the country can be halved. The middle class of this country, the common man of this country can get a huge relief. But this was not done.
..” he said.
(With inputs from agencies).
