Deputy Imtiyaz Jaleel | Imtiaz Jaleel MP expressed his concern in Lok Sabha about the increase in the buyback rate of the loans and raised many questions about the functioning of the government.

Construction of a bridge at Amarpreet Chowk at Chikalthana Place

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Aurangabad: How the common man is being harassed by the RBI’s increased buyback rate on home, vehicle and other loans to lenders across the country. On this, Aurangabad MP Imtiyaz Jaleel raised several questions about the Modi government’s functioning in the Center while presenting information with figures during the Lok Sabha session of Parliament. Expressing his concern about the repo rate increasing in RBI 6 times in the last 8 months, he opposed raising the repo rate highlighting the problems faced by the common man in paying the EMI of the loan.

During the Parliament’s budget session, which began on Thursday, January 31, Jaleel MP raised concerns about the RBI raising the basic repo rate by 25 percent on Wednesday, saying that on May 4, 2022, the repo rate was 4.40 percent. After increasing the repo rate 6 times in the last 8 months, today it stands at 6.50 percent. MP Jaleel, while noting the increase in the time period to repay the loan to the country’s lenders due to the increase in the repo rate by 2.25 percent, said that if a person takes a loan at 20 years, you will have to repay the loan for 160 months instead of 120 months. On the other hand, if a person takes a loan for 25 years, he will have to repay the loan for 199 more months instead of 300 months.

MP Jaleel raised questions about tax exemption

For one, the central government grants income tax exemption up to Rs 7 lakh. In the budget, it is decided to give many tax breaks to government employees. On the other hand, MP Jalil expressed concern about looting of loan borrowers by increasing the repo rate. He said that by increasing the RBI repurchase rate, he will have to repay the loan in life and even after life. Presenting the detailed figures of loan repayments in Parliament regarding the increase in the buyback rate, Jaleel MP accused the Modi government in the Center of playing a magic game.

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Better facilities should be built in schools in rural areas

He also questioned the construction of 14,522 PMshree schools to be opened by the central government across the country, saying that even today the condition of Zilla Parishad schools in rural areas is very bad, the condition of 1,600 schools in the district of Aurangabad is pathetic. . Even today the buildings of those schools are better, nor are there better facilities available for better education for the students of the poor, farmers and workers who are educated there. First, better facilities should be made available in these schools, then MP Jalil demanded construction of PMShri schools in Parliament.

38 percent reduction in budget for minority community advancement

MP Jaleel recently expressed his great discontent over the 38 percent reduction in the budget allocation made for minority community advancement in the budget submitted to parliament for the new fiscal year by the central government, saying that in the year 2012-13 Just as the then central government kept the budget, the same amount has been kept for minority community progress in the new fiscal year’s budget. Jalil surrounded the government for making less budget provision for the minority community in the budget and said we were flowers, you gave us thorns by making less budget provision. Jalil said that the central government keeps this community away from the progress of the country by making less provision in the budget for the minority community. He said that on one hand the country will grow and on the other hand the minority community will remain behind.

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