Aam Aadmi Party MP Raghav Chadha's Scathing Criticism of Union Budget 2024-25
Aam Aadmi Party (AAP) Rajya Sabha MP Raghav Chadha launched a scathing attack on the Union government's Budget 2024-25, accusing it of burdening citizens with heavy taxes while delivering subpar services.
Excessive Taxation: He argued that the government has imposed excessive taxes on citizens, comparing the tax burden to that of England while the quality of services received is akin to those in Somalia.
According to Chadha, the budget has failed to satisfy any section of society, including BJP supporters.
He blamed the government's economic policies for the BJP's reduced number of seats in the Lok Sabha, attributing it to the imposition of 18% GST on various goods and services.
Chadha highlighted the "decadal low growth in rural income" and attributed it to factors like rising inflation, unemployment, low crop yields, and farmer debt.
He criticized the government for failing to fulfill its promises of doubling farmers' income and providing MSP as per the Swaminathan Commission report, leading to a decline in rural wages.
Chadha expressed concern over the government's decision to remove indexation benefit on the sale of old property, arguing that it will encourage the inflow of black money and discourage investment in the real estate sector.
1. Rework the agricultural pricing formula to ensure a minimum reserve price for farmers selling their crops in the open market.
2. Implement a legal guarantee for MSP in accordance with the Swaminathan Commission report.
3. Incentivize financial savings in various instruments like debt, equity, mutual funds, and bank deposits.
4. Review, revise, and simplify the GST structure, including reducing rates in export-oriented sectors.
5. Adopt cooperative federalism instead of discriminatory federalism, ensuring equitable distribution of resources to all states.
6. Extend GST compensation to states for at least five more years.
Chadha's critique highlights the concerns of many citizens regarding the current economic policies and the need for a more equitable and sustainable approach to taxation and resource allocation.