HYDERABAD: Criticising the Centre’s decision to slash effective corporate tax to 25.17 per cent termed it as a move which would ‘rob the poor, reward the rich’.
In a series of tweets, the Hyderabad MP laid into the move announced by Finance Minister Sitharaman which would see a forego of revenue of Rs 1.45 lakh crore annually. Owaisi said, “The cost of this magnanimity is Rs 1.5 lakh crore. Instead of going to the public’s purse, it’ll line the pockets of big businesses. GST collections fell by another Rs 1.5 lakh crore. Where is @nsitharaman going to find 3 lakh crore of revenue to fund essential public work?”
Owaisi reminded that the Centre has already foregone Rs 1.08 lakh crore in revenue and asked why it has increased the number further. He said that a ‘stimulus package’ for working families should have been announced. He said, “Corporations get loans written off & their tax liability is slashed. Debt-ridden farmers and unemployed young men with education loans are asked to fend for themselves.”