Daijiworld Media Network- New Delhi

New Delhi, Jan 30: Aam Aadmi Party (AAP) supremo Arvind Kejriwal has urged the central government to introduce a law banning loan waivers for corporates, alleging that such benefits unfairly favour the wealthy while burdening common citizens with high taxes.

Addressing a press conference on Tuesday, Kejriwal said he has written to Prime Minister Narendra Modi, questioning the government’s practice of writing off corporate loans worth thousands of crores. He claimed that while the rich benefit from these waivers, ordinary people struggle to pay taxes on their income and daily expenses.

"Common people are paying almost half their salaries in taxes, yet billionaires are getting their loans waived. Why doesn’t the government waive home loans, car loans, or personal debts of the middle class?" he asked.

Kejriwal argued that stopping loan waivers for big businesses could allow the government to slash income tax and GST rates by half, 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 asserted.

With the Delhi Assembly elections set for February 5, Kejriwal is seeking a third consecutive term following AAP’s landslide victory in 2020, when it won 62 out of 70 seats. The election results will be declared on February 8.