• By Mayukh Debnath
  • Thu, 25 Jul 2024 08:54 PM (IST)
  • Source:JND

Budget 2024 Discussion: Aam Aadmi Party (AAP) Rajya Sabha member Raghav Chadha on Thursday launched a scathing attack on the BJP-led NDA central government over the Union Budget 2024-25, saying that taxes in India are at par with those levied in England but public facilities are comparable to those found in war-ravaged Somalia.

He further asserted that the successive governments led by Prime Minister Narendra Modi have sucked the life out of common people by introducing various new taxes since 2014. "We, in India, today, pay taxes like England to get services like Somalia," said Chadha in Rajya Sabha during the ongoing Monsoon Session of Parliament.

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The AAP MP also cautioned that the government's proposal to scrap indexation benefit on the sale of old property will lead to huge inflow of black money in real estate and investments in the sector will drop. Asking the government to roll back the decision, Chadha said people will never be able to purchase their "dream home".

"Restore indexation on long-term capital gains. Throughout the world, to woo investors to invest they are incentivised. In this country, by removing indexation we are disincentivising the investor class," he said, adding that the removal of indexation benefit would be equivalent to "penalising investors".

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"If you do not bring back indexation three things will happen in this country. First, investment in real estate will go down and people will never be able to buy their 'dream homes'," the Rajya Sabha MP was quoted as saying by news agency PTI.

(With inputs from agencies)