Very low interest for Tata Nano!!
The propsed project of Nano at the Singur after been transfered to the Sanand, the Gujarat government is expecting to get long term benefits of around Rs 30,000 cr and that too at the interest rate of only 0.1%. The delayed or postponed payment of this interest rate will begin after 20 years from now.
It has come to the eye of press reporters that the new project of Tata Nano to be launched at Sanand has now become easy for the company while offering a great deal of future money for the state government on the other hand. With the going-going deal both the Tatas and the Gujarat state government are in a win-win situation. The state government is now offering a project money of Rs. 9570 cr to the Tata's all at the rate of just 0.1% interest. All these informations been received from some documents circulating at the state secretariat, but if we listen to the government officials we find that the information been released are not authentic. Why the state government do not want the informations to be released is just can not known. Moreover the state government also do not want to tell any information regarding the matter ir-respective of the right of Information Act. The loan money is distributed in three parts viz., Rs 2,900 crore for setting up the Nano plant, Rs 700 crore as the relocation fees and Rs. 6,670 crore will be spent on the infrastructure development. Infrastructure includes roads and the rails, gas pipelines, effluent treatment plant, electricity and even the water.
With these developed infrastructures the state would be a auto hub for and through-out the people. The developed plans of the cars in the state will offer Tata's to pay easy installments over the next 20 years. With the project on Tata's have got 100% free from any obligation electricity with duty along with the concessional tariff. Moreover the land for the project which lies in an area of 1100 acre is coming with out any stamp duty, registration and transfer charges. Regarding the payment of the land the information available is that the payment would be made in 8 equal annual instalments all at the interest rate of 8% per annum.
It is expected that the project would show positive outcome both for the government and the Tata's.
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