New Delhi: Soon after the news of Vijay Mallya escaping the country made headlines, the central government has announced a new cess called Mallya cess to cover the losses of PSU Banks.
Vijay Mallya celebrating Mallya cess
This cess has to be paid by people drinking beer, watching IPL and Formula One, frequent flyers and people who have Kingfisher calendar subscriptions.
The money collected through this cess will be used to bail out PSU banks which dumped money in the bottomless pit aka Kingfisher Airlines. Arun Jaitley also announced that the government will now put in place strict guidelines to recover loans given to farmers and small businesses. He also said that they will seize their assets if necessary.
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