Aam Aadmi Party (AAP) national convener and former Delhi Chief Minister Arvind Kejriwal on Saturday said that he was disappointed that his suggestion to end loan waivers for billionaires and spend the saved money on the middle class and farmers was not met in the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman.
The former Delhi Chief Minister said that a large portion of the public exchequer is spent on these waivers. “Income Tax and GST rates should be halved. I am sad this was not done,” Kejriwal said in a post on X.
“A large part of the country’s treasury is spent on waiving off the loans of a few rich billionaires. I had demanded that it be announced in the Budget that from now on, the loans of any billionaire will not be waived off. Middle-class home loans and vehicle loans should be waived off; farmers’ loans should be waived off,” his post read.
Presenting her eighth straight Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman laid out a blueprint for “next-generation” reforms, including raising the FDI limit in the insurance sector and simplification of tax laws.
In a relief to the middle class, Sitharaman exempted annual income of up to Rs 12 lakh from income tax and rejigged tax slabs as part of her Budget.
