Aam Aadmi Party's Rajya Sabha MP, Raghav Chadha, did not hold back in his critique of the Union government's Budget 2024-25, comparing the tax burden on Indians to that of England with services that do not match the level of taxation, akin to Somalia. Chadha specifically pinpointed the removal of indexation benefit on the sale of old property as a red flag, expressing concerns that this move could pave the way for an increase in black money circulation within the economy.
During his address to the Parliament on July 25, Chadha called for a comprehensive review of the existing tax framework and presented eight suggestions for improvement. He emphasized the detrimental impact of the government's taxation policy on the common people over the past decade, suggesting that Indians have not seen proportional benefits in return for the taxes imposed. The AAP MP also highlighted dissatisfaction among various segments of society, including even BJP supporters, with the Union Budget, reflecting a widespread disillusionment with the economic policies of the government. Chadha pointed out the decline in BJP's seat share in the Lok Sabha from 303 in 2019 to 240 in 2024, attributing this electoral setback to economic factors and the imposition of GST on seats.
Chadha delved into the economic challenges faced by rural India, citing decadal low growth in rural income, along with various issues such as rising rural inflation, unemployment, income inequality, and farmer distress. He underscored the unfulfilled promises of doubling farmers' income and providing MSP as per the Swaminathan Commission recommendations, highlighting the continuous decline in rural wages. Chadha emphasized the need for the government to reconsider its decision to remove indexation on long-term capital gains, warning that this move could hinder people from purchasing their desired homes and lead to increased corruption in the real estate sector.