Shiromani Akali Dal opposes Aam Aadmi Party’s duty hikes on bank loans and power of attorney transfers, citing burden on common people. Demand for policy reversal grows amid rising costs. Opposition to tax reforms sparks debate on SAD’s point of view towards development plans.

SAD’s Discontent with AAP’s Tax Measures

The recent decision by the Aam Aadmi Party (AAP) government to increase stamp duty on bank loans and impose a 2% tax on transfers through power of attorney has drawn sharp criticism from the opposition Shiromani Akali Dal (SAD). In a statement released on Tuesday, senior SAD leader Bikram Singh Majithia expressed strong opposition to these measures, labeling them as detrimental to the financial well-being of the common citizens.

Condemnation and Concerns

Majithia condemned the AAP government’s move, asserting that it would impose an additional financial burden of ₹1,000 crore on the already struggling populace. He particularly highlighted the impact of rising value-added tax (VAT) on petrol and diesel, which, when coupled with the newly introduced taxes, would exacerbate the financial strain on households.

Impact on Common People

Emphasizing the adverse effects of the increased stamp duty and transfer tax, Majithia pointed out amendments made to the Indian Stamp Act, resulting in a 0.25% stamp duty on bank loans. He expressed concern that such measures would inflate the costs of essential items such as vehicles and homes, making them less affordable for ordinary citizens. Additionally, he voiced apprehensions regarding the implications of these taxes on the overall economy and urged the government to reconsider its decision in the interest of the public.

Demand for Policy Reversal

The SAD leader’s statement has reignited the debate over the AAP government’s tax policies, with many echoing his sentiments and calling for an immediate rollback of the stamp duty increase and transfer tax imposition. The demand for policy reversal is gaining momentum, with citizens and opposition parties alike urging the government to prioritize the welfare of the people and alleviate their financial burden. As pressure mounts on the AAP government, the spotlight remains on whether it will heed the calls for policy reconsideration in the face of growing discontent among the populace.

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