AAP leader Raghav Chadha on Tuesday accused the government that in an attempt to create a $ 5 trillion dollar economy, it was looking at the middle class as an ‘skeletal’.
Participating the debate on the Union Budget in the Rajya Sabha, Chartered Accountant Chadha said that while the rich get benefit from various schemes and tax incentives, the middle class does not get anything despite their hard work. Referring to this, he said, “In 1998, an American film ‘Honey Eye Shrak The Kids’ came.
The AAP leader said that out of India’s 140 crore population, only 8 crore people file income tax returns, out of which about 5 crore people file zero income tax returns. He said that only 3 crore people actually pay income tax.
Citing CMIE data, Chadha said that out of 43 crore middle class Indians, only 3 crore income taxpayers will get benefit from budget announcements. He suggested to reduce GST along with income tax relief to promote consumption, given that “GST is paid by both poor and rich. The poor pays GST when the poor buys matches, rich. When Mercedes buys, he pays GST. “
Expressing concern about the rising domestic debt, Chadha said that the ratio of domestic debt and GDP has reached 40 percent. He said, “The middle class is forced to take loans to meet their daily expenses … debt is not for assets manufacturing.” The AAP leader also criticized the government for shutting down a separate railway budget and abolishing subsidies on railway tickets for senior citizens.
On international issues, Chadha expressed concern over the exile of Indians from the United States and warned of India’s possible impact of the economic policies of the Trump administration over India’s IT, textiles, autos and pharma regions. He also highlighted the issue of devaluation of the rupee and said that it could increase inflation due to expensive food and energy products. Taking a sarcasm at the ruling party, Chadha said that the BJP leaders who have been vocal about the devaluation of the rupee during the UPA rule are now silent on the issue.