Income tax, GST rates can be halved if loan waiver to billionaires stopped: Kejriwal writes to Modi

News Network
January 28, 2025

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Ahead of the Delhi Assembly elections, Aam Aadmi Party (AAP) national convenor and former Delhi Chief Minister Arvind Kejriwal has written to Prime Minister Narendra Modi, urging the Centre to prioritise waiving loans for farmers and the middle class instead of wealthy individuals. He also demanded a nationwide law to prohibit the waiver of loans given to billionaires.

Notably, 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.

Income tax, GST rates can be cut to half

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 emphasised that discontinuing loan waivers for billionaires could enable the government to reduce income tax and GST rates by half, double the taxable income threshold, and remove GST on essential commodities. "This is a massive scandal, and it's time to put an end to it," he said.

Kejriwal writes to PM Modi 

In his letter, Kejriwal stated, "Prime Minister should declare that no rich person's loan will be waived off. If you want to waive off, then waive off farmers' loans, middle class's home loans. This money will benefit the middle class a lot."

Kejriwal further argued that by waiving loans for the wealthy, the government could reduce tax rates. "I have calculated that if loans are not waived off, then tax rates will be halved. A person earning 12 lakhs annually pays his entire salary in tax, this is the sorrow of the middle class," Kejriwal wrote.

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News Network
February 2,2025

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Opener Gongadi Trisha scored 44 as India defeated South Africa by nine wickets in the final match of the Women's U19 T20 World Cup in Kuala Lumpur on Sunday.

Chasing only 83 runs, India did not face much difficulty as they lost just one wicket and went across the line in just 11.2 overs.

Earlier, contributions from the entire bowling unit helped India bundled out South Africa for 82 in 20 overs in the final of Women's U19 T20 World Cup on Sunday in Kuala Lumpur.

Asked to bowl first, India made immediate impact with back-to-back wickets. With this, India lifted their second consecutive U19 Women's World Cup title.

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News Network
February 11,2025

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Addressing the AI Action Summit in Paris, Prime Minister Narendra Modi stressed that AI is writing the code for humanity in this century.

"I am grateful to my friend President Macron for hosting this summit and for inviting me to co-chair it. AI is already reshaping our economy, security and even our society. AI is writing the code for humanity in this century...," PM Modi said.

Giving a simple experiment, he said, "If you upload your medical report to an AI app, it can explain in simple language, free of any jargon what it means for your health. But if you ask the same app to draw an image of someone writing with their left hand, the app will most likely draw someone writing with their right hand...".

He also stressed on the need for open source systems that enhance transparency.

"Governance is also about ensuring access to all, especially in the Global South. It is where the capabilities are most lacking be it power, talent, or data for the financial resources. AI can help transform millions of lives by improving health, education, agriculture and so much more. It can help create a world in which the journey to sustainable development goals becomes easier and faster. To do this, we must pull together resources and talent. We must develop open-source systems that enhance trust and transparency. We must build quality data sets free from biases...," the Prime Minister said.

Highlighting AI's potential to shape humanity's future at Paris summit, PM Modi said, "We are at the dawn of the AI age that will shape the course of humanity." 

Hailing India's digital revolution, PM Modi said, "India has successfully built a digital public infrastructure for over 1.4 billion people at a very low cost. It is built around an open and accessible network. It has regulations and a wide range of applications to modernise our economy, reform governance and transform the lives of our people...Today, India leads in AI adoption and techno-legal solutions on data privacy...We have one of the world's largest AI talent pools."

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News Network
February 6,2025

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Udupi: In the serene town of Shirva Manchakal, Udupi district, a profound sorrow has enveloped the community. Rakesh Kamath, a dedicated chartered accountant, aged 32, has tragically passed away on February 5 at Manipal Hospital, Bengaluru, following a brief illness.

A devoted son of businessman Balakrishna Kamath, he had recently journeyed to Hyderabad for professional commitments. He was employed at a private firm in Bengaluru.

Upon his return, he fell ill. Despite medical intervention and initial signs of recovery, his condition suddenly worsened, leading to his untimely collapse. 

His wife acted swiftly, admitting him to Manipal Hospital, but despite all efforts, he did not respond to treatment and departed from this world.

He leaves behind his beloved wife, CA Shruti, along with a multitude of relatives and friends who now mourn the loss of a vibrant soul taken too soon. 

The community stands in solidarity with the grieving family during this heart-wrenching time.

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