Kejriwal: Common Man Pays Taxes, Rich Get Loans Waived

New Delhi: AAP national convener Arvind Kejriwal has written a letter to Prime Minister Narendra Modi and demanded a nationwide law to prohibit the waiver of loans given to billionaires.
Addressing a press conference on Tuesday, Kejriwal criticised BJP-led central govt for allegedly showing favouritism to the wealthy by writing off corporate loans worth thousands of crores. He claimed that such practices burdened ordinary citizens with excessive taxes while benefitting the rich and urged govt to redirect these resources toward easing the financial burden on common citizens, farmers, and middle-class families.
"Common people are paying half their salaries in taxes, while the loans of the rich are being waived. Why doesn't central govt waive home loans, car loans, or other financial burdens of ordinary citizens?" the AAP convener said.
The letter was written days before a crucial election to the Delhi assembly, which is due for Feb 5. The result will be announced on Feb 8. This is the second time in less than a week that Kejriwal batted for the middle class and sought benefits for the section, which, he said, was overburdened with taxes.
The AAP convener asserted that stopping loan waivers for billionaires could allow govt to halve income tax and goods and service tax rates, double the taxable income limit, and eliminate GST on essential commodities. "This is a massive scandal, and it's time to put an end to it," he claimed.
Kejriwal further claimed that loans taken by 400-500 billionaires worth nearly Rs 10 lakh crore were waived by central govt in the last five years. "It seems as though the entire treasury, instead of being spent on the public, is being showered upon a few billionaire friends," he said.
The AAP convener also claimed that central govt could easily reduce income tax on salaried persons and professionals and double the limit of exemption on taxable income by stopping loans extended to the billionaires.
Alleging that middle class of the country was a victim of "tax terrorism," Kejriwal had last week released his party's manifesto for them demanding that central govt increased the income tax exemption limit to Rs 10 lakh, abolished GST on essential commodities, and capped the fees charged by private schools, in the upcoming Union Budget for 2025-26.
The manifesto also included demands for an increase in budget allocation for education and health sectors to 10% of the GDP, introduction of a retirement plan for senior citizens, free medical treatment for them, and restoration of 50% discount they earlier got on railway tickets.