Aam Aadmi Party MP Raghav Chadha Criticizes 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, stating that Indian citizens "pay taxes like England to get services like Somalia."
Chadha's criticism focused on several aspects of the budget. He argued that the government's decision to remove indexation benefit on the sale of old property would encourage the inflow of black money. He also expressed concern that the budget failed to address the concerns of various sections of society, including BJP supporters.
Chadha attributed the BJP's reduced number of seats in the Lok Sabha to its economic policies. He highlighted the "decadal low growth in rural income" and attributed it to factors such as rising rural inflation, unemployment, and low crop yields. He also pointed out the unfulfilled promises made to farmers regarding doubling their income and providing MSP as per the Swaminathan Commission.
Regarding the removal of indexation on long-term capital gains, Chadha argued that it would discourage investors and lead to excessive corruption in the real estate sector. He urged the government to roll back the decision, stating that it would prevent people from buying their "dream homes."
Chadha concluded his address by offering eight suggestions for a comprehensive review of the budget. These included reworking the agricultural pricing formula, providing a legal guarantee to MSP, incentivizing financial savings, reviewing and simplifying GST, adopting cooperative federalism, and continuing GST compensation to states.