'Time to end': Kejriwal seeks law against billionaire loan waivers

'Time to end': Kejriwal seeks law against billionaire loan waivers
28 Jan 2025

Aam Aadmi Party (AAP) leader Arvind Kejriwal has written to Prime Minister Narendra Modi, asking him to introduce a law against loan waivers for billionaires.

The appeal comes just days ahead of the Delhi Assembly elections on February 5.

Kejriwal slammed the central government for allegedly writing off thousands of crores worth of corporate loans for the rich, which he said favors the wealthy but burdens ordinary taxpayers.

Kejriwal proposes tax reforms, criticizes current practices
Tax reforms

Kejriwal also questioned the government's intentions, asking, "Why doesn't the central government waive home loans, car loans, or other financial burdens of ordinary citizens?"

He suggested that if loan waivers for billionaires were stopped, it could enable the government to halve income tax and Goods and Services Tax (GST) rates.

He further said it would enable doubling the taxable income limit and result in the removal of GST on essential commodities.

Kejriwal calls for prioritizing loan waivers for farmers, middle class
Loan priorities

Addressing a press conference, Kejriwal termed the ongoing situation a "massive scandal" and demanded an end to it.

In his letter to PM Modi, he asked loan waivers should be prioritized for farmers and the middle class, and not rich people.

"The prime minister should declare that no rich person's loan will be waived off," he wrote, adding it would benefit these sections immensely.

AAP's election strategy targets slum vote bank
Election strategy

As Delhi Assembly polls draw near, the AAP is working on how to retain its traditional slum vote bank in the face of competition from the Bharatiya Janata Party and Congress.

The party has planned a campaign to mobilize educated youth from slum areas who have a strong community influence.

These youths are trained to explain the benefits of the AAP's schemes to slum residents, focusing on government initiatives like free electricity and water, education, health services, and infrastructure improvements.