As Delhi gears up for its Assembly elections on February 5, Aam Aadmi Party (AAP) national convenor and former Chief Minister Arvind Kejriwal has made a direct appeal to Prime Minister Narendra Modi. In his letter, Kejriwal called for the central government to focus on waiving loans for farmers and middle-class citizens instead of wealthy individuals. He also proposed a nationwide law to prohibit waiving loans given to billionaires. This statement comes as Kejriwal campaigns for a third consecutive term, following AAP’s massive victory in the 2020 elections where they secured 62 out of 70 seats.
Arvind Kejriwal’s Criticism of Loan Waivers for the Wealthy
During a press conference on Tuesday, Kejriwal criticized the central government for favoring the rich by waiving corporate loans worth thousands of crores. He alleged that this practice unfairly burdens ordinary citizens through excessive taxes.
“Common people are paying half their salaries in taxes, while the loans of the rich are being waived. Why doesn’t the central government waive home loans, car loans, or other financial burdens of ordinary citizens?” Kejriwal asked.
He further argued that discontinuing loan waivers for billionaires could allow the government to halve income tax and GST rates, double the taxable income threshold, and eliminate GST on essential items. “This is a massive scandal, and it’s time to put an end to it,” he remarked.
Kejriwal’s Suggestions for Tax Reforms
Kejriwal proposed that prioritizing the needs of farmers and the middle class could bring significant tax relief to ordinary citizens. He claimed that stopping loan waivers for billionaires would enable the government to:
- Reduce income tax and GST rates by 50%.
- Double the taxable income threshold.
- Remove GST on essential commodities.
He emphasized that such measures would alleviate the financial burdens faced by the middle class and contribute to a fairer economic system.
Kejriwal’s Letter to the Prime Minister
In his letter to Prime Minister Modi, Kejriwal wrote, “The Prime Minister should declare that no rich person’s loan will be waived off. If you want to waive off, then waive off farmers’ loans and middle-class home loans. This money will benefit the middle class a lot.”
He further elaborated on the economic implications of loan waivers for billionaires. “I have calculated that if loans are not waived off, then tax rates will be halved. A person earning ₹12 lakh annually pays his entire salary in tax. This is the sorrow of the middle class,” he stated.