Aam Aadmi Party (AAP) leader Arvind Kejriwal has written a letter to Prime Minister Narendra Modi, urging him to provide relief to farmers and the middle class by waiving their loans and reducing their tax burden. Kejriwal criticized the government’s practice of forgiving loans for the wealthy and demanded that this privilege be extended to ordinary citizens instead.
Kejriwal’s Suggestions to PM Modi
Kejriwal stated that instead of writing off loans worth crores for billionaires, the government should:
- Waive loans for farmers and middle-class people.
- Reduce tax rates, such as income tax and GST.
- Double the income limit for taxable earnings.
- Remove GST from essential goods.
Criticism of Loan Forgiveness for Billionaires
Kejriwal highlighted that when the government uses taxpayer money to forgive massive loans for billionaires, it hurts the middle class. He urged the Prime Minister to introduce a law ensuring that no billionaire’s loans are forgiven in the future.
Comparing Expenses
Kejriwal mentioned that the government recently forgave ₹46,000 crores of debt for a single billionaire. In contrast, his government in Delhi provided free bus travel for one crore women, spending only ₹400 crores.
Impact on the Middle Class
He emphasized how a middle-class person earning ₹12 lakhs per year pays almost half of it in various taxes like GST, income tax, and property tax. Yet, they see their hard-earned money being given to billionaires. This creates resentment among taxpayers.
400-500 Billionaires’ Debt Waived
According to Kejriwal, in the last five years, the central government has waived loans worth ₹10 lakh crores for 400-500 billionaires. Meanwhile, ordinary citizens continue to struggle with rising inflation and unemployment.
Key Demands to the Prime Minister
Kejriwal presented two major requests to PM Modi:
- Stop forgiving loans for billionaires. Instead, waive the home loans and vehicle loans of the middle class and the debts of farmers.
- If billionaire loans are not forgiven, cut tax rates by half, double the taxable income limit, and remove GST on essential goods.
Benefits of Stopping Billionaire Loan Forgiveness
Kejriwal argued that stopping loan waivers for billionaires would free up funds to:
- Halve income tax rates.
- Double the taxable income limit.
- Cut GST rates in half.
- Remove GST entirely on essential goods.
Kejriwal concluded by emphasizing that these changes would greatly benefit the middle class and farmers, creating a more just and fair economic system.
