Arvind Kejriwal urges PM Narendra Modi to enact law banning loan waivers for billionaires

Kejriwal criticised the central government, alleging favouritism toward the wealthy by writing off corporate loans worth thousands of crores.

Ahead of the Delhi Assembly elections, AAP supremo Arvind Kejriwal has written to Prime Minister Narendra Modi, demanding a nationwide law to prohibit the waiver of loans given to billionaires.

New Delhi, India - Jan. 27, 2025: Aam Aadmi Party National Convener Arvind Kejriwal and Manish Sisodia during release the 15 poll guarantees and 2100 for women ahead of Delhi Assembly elections at AAP office, in New Delhi on Monday (Ajay Aggarwal/Hindustan Times)

Addressing a press conference on Tuesday, Kejriwal criticised the central government, alleging favouritism toward the wealthy by writing off corporate loans worth thousands of crores. He claimed such practices burden ordinary citizens with excessive taxes while benefitting the rich.

"Common people are paying half their salaries in taxes, while the loans of the rich are being waived. Why doesn't the central government waive home loans, car loans, or other financial burdens of ordinary citizens?" Kejriwal asked.

He asserted that stopping loan waivers for billionaires could allow the government to halve income tax and GST rates, 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 said.

Delhi Assembly elections are scheduled for February 5 and the result will be announced on February 8.

Kejriwal is seeking a third consecutive term, following AAP's landslide victory in 2020 when it won 62 out of 70 seats.