Punjab accepts Centre's option to take loan to offset GST revenue

Punjab accepts Centre's option to take loan to offset GST revenue

New Delhi. The Congress-ruled Punjab has accepted the Centre's proposal to take a loan to meet the shortfall in the Goods and Services Tax (GST), under which it will get Rs 8,359 crore through special means. The Finance Ministry said in a statement, "The Punjab government has informed to accept option-1 to meet the revenue shortfall caused by the implementation of GST. The number of states choosing this option has increased to 26. The three union territories (Delhi, Jammu and Kashmir, Puducherry) have also opted for option-1.

The Center has already borrowed Rs 24,000 crore in four installments from the states and has been given to 23 states and three union territories on October 23, November 2, November 9 and November 23. Punjab, Kerala and West Bengal will receive funds from the next cycle of borrowing. Earlier this week, Kerala and West Bengal also reported to the Center to accept this borrowing option to meet the GST shortage.

The states opting for option one will be given special facility to avail loans to compensate the loss due to implementation of GST. Also, on accepting this option, the States will be allowed to borrow the last installment of 0.50 percent of the State Gross State Domestic Product (GSDP) under the Self-Reliant India Mission unconditionally. States can borrow a total of two percent of GSDP under this mission.


Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift's craze among people is increasing, in the year 2020, the company sold 160,700 units

Maruti Swift is proving to be the power player for the country's largest car manufacturer, Maruti Suzuki. The company has so far achieved a milestone of 2.3 million sales. In 2020, the strong performing car is still at the top. Despite the Corona epidemic last year, the car has performed well.

The Swift emerged as the best-selling passenger vehicle in the calendar year 2020, recording a total sales of 160,700 units. With this, Maruti ensured that the premium hatchback maintained its dominant position in the market where it was first launched in 2005.

Swift created a record

Swift took five years to reach five lakh in sales by 2010 and, like its name, it doubled to 10 lakh by 2013. At the same time, it took another five years to reach the next five million sales.
Shashank Srivastava, executive director and head of marketing sales, Maruti Suzuki, said that, Maruti Suzuki Swift has been the best-selling premium hatchback in the country in the last 15 years with over 2.3 million customers. He further said that, with continued customer support, I believe that Swift will successfully achieve many more milestones in the future.

Maruti's first choice of youth

Maruti underlined that about 53% of Swift customers are under 35 years of age, which reflects the car's preference among younger buying audiences. The car's excellent design and its cabin reflect the true strength of the Swift. If sources are to be believed, the company can also launch its facelift variant soon.


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