Dear all:
We are living in a 'blackmailing age' where Industrialists virtually calling shots.
Current the interest rate is 9.5% p.a. for 30 lakhs and above.
So, TATAs will be saving at least 900 crores p.a. and at the cost of tax payers
TATAs had envisioned 100,000 cars p.a.
No. of CARS p.a Interest Benefits p.a.
100,000 900,0000000
interest benefits passed / 1 car -----------> Rs. 900,00 saving..
(Please correct me if you see this calculation incorrect)
that means, if there were no softloan, the price of the car can't be around 1 Lakh.
This is socialism at best; doing business with public money and competing with leading auto manufacturers around the world in an unfair manner. I think, we should inform WTO regarding this..
Thanks
Manoj Padhi
http://profit.ndtv.com/2009/01/19205059/Gujarat-reveals-how-it-lured-N.html
The Gujarat Government has made public the incentives it offered to the Tatas for luring the small car project to the state – a demand the opposition parties had been making ever since the Tata Motors decided to relocate to Sanand in the state from Singur in West Bengal.
Three months after the Tatas' decision, the state government passed a Government Resolution (GR), enlisting the incentives, which were kept under wraps till now.
As per the GR, the state has offered everything that an industrialist would want to set up a project, starting from lands, soft loan, water supply, infrastructure facilities etc.
Major incentives offered to the car project include a soft loan of Rs 9,500 crore at 0.1 per cent rate of interest and repayable over 20 years.
Moreover, the existing policy of the state government regarding 85 per cent recruitment of locals would also not be applicable to the project.
Coming to the land, the Tatas will have to pay the total price in eight installments at an interest rate of eight per cent, while approach roads and stamp duty waiver have also been granted.
Facilities for solid-waste disposal and effluent treatment plants would also be developed by the state government.
On January 1, the Gujarat Industry Department had passed a GR pertaining to the Nano project and circulated it to very few departments and its officials, like industry, energy, water supply, sales tax etc.
In-charge Principal Secretary of Industries M Sahu, when contacted, confirmed the GR on Nano project.
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