Arvind Kejriwal demands law to end billionaire loan waivers, proposes tax reductions

Aam Aadmi Party (AAP) national convenor Arvind Kejriwal, on Tuesday reiterated his call for waiving loans for farmers and the middle class while urging Prime Minister Narendra Modi to enact a law prohibiting the waiver of loans for wealthy billionaires.

Speaking at a press conference, Kejriwal claimed that stopping loan waivers for billionaires could allow a reduction in income tax and GST rates.

#WATCH | Delhi: AAP National Convener Arvind Kejriwal says, "Today I have written a letter to the Prime Minister on an important issue. The BJP government at the Centre is looting money from the government treasury for a few billionaires... On the other hand, the middle class is… pic.twitter.com/tXmCu42Cm8

— ANI (@ANI) January 28, 2025

"I have two requests to the Prime Minister—first, a law should be made to ensure that no rich billionaire's loans are forgiven. If loans are to be forgiven, then loans of the middle class and farmers should also be waived. If we stop waiving loans for the rich, income tax and GST rates could be halved. GST on food items and other essentials could also be reduced. This is our demand on behalf of the middle class," Kejriwal said.

The former Delhi Chief Minister accused the BJP-led Central government of prioritizing billionaires over citizens, alleging that public funds are being misused for the benefit of a select few.

He remarked, "They are looting money from the government treasury for a few billionaires. Whenever they want to please them, they grant loans and then waive them after a few years. This is how public money ends up in the hands of billionaires."

Kejriwal further claimed that the Central government had waived loans worth ₹10 lakh crore for 400-500 billionaires over the last five years.

"While the poor and middle class grapple with inflation and unemployment, the government opens the treasury for billionaires," he said. Drawing comparisons, he noted that the Delhi government spent just ₹400 crore on its free bus travel scheme for women, emphasizing the disparity in government priorities.

"When we announced free travel for women, it cost only ₹400 crores, but they waived so much debt for just one friend. A middle-class person earning ₹12 lakhs pays ₹6 lakhs in taxes, but in return, gets nothing," he said.

Responding to recent allegations of "poisonous water" supply from Haryana, Kejriwal said that Delhi Chief Minister Atishi and Punjab Chief Minister Bhagwant Mann would meet the Election Commission to discuss the issue.

"Atishi has written a letter to the Election Commission today. Bhagwant Mann and Atishi will meet the commission at 4 pm. Don’t try to scare us with cases, Saini sahab. Tell your party not to engage in dirty politics," Kejriwal added.

Meanwhile, Congress leader Uday Gill joined AAP during the event in the presence of Arvind Kejriwal, Sanjay Singh, and other senior leaders. Welcoming him, Kejriwal said, "Uday Gill, chairman of Valmiki Choupal, has worked for the welfare of deprived sections for 40 years. I am happy he has joined AAP."

As the Delhi Assembly elections draw closer, political parties have intensified their campaigns, targeting each other while vying for public support. The polls are scheduled for February 5, with results to be announced on February 8.

AAP, which dominated the 2015 and 2020 elections with 67 and 62 seats, respectively, is facing renewed competition from the BJP and Congress, the latter struggling to regain its foothold after failing to win any seats in the last two elections.