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Old 8th September 2008, 20:04   #391
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I sympathise with Ratan Tata. After trusting Buddhadeb and investing in WB, all he gets to show is a half constructed factory, a protest and a 'Win-Win' deal for everyone except Tata Motors, share holders and most importantly the would be consumers of Nano (they cant win if the price goes up can they?)
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Old 8th September 2008, 23:01   #392
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the government negotiated and reached a deal without consulting Tata?

Sheesh, even I sympathise.
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Old 9th September 2008, 08:48   #393
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what's the final outcome of talks: a panel?
all that initial cries of 'talks successful', seemed more like imagination of news hungry media. Mamta says 'got land in complex', Tata Motors is clueless, and WB Govt says 'we never talked about land in complex'.
Tata would have never thought that Nano will run into such 'Giga' issues.
God save WB.
link for a NDTV report below
NDTV.com: Singur: Suspense grows as Mamata, WB govt differ
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Old 9th September 2008, 10:08   #394
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TOI and other newspapers published a big headline yesterday "Singur row resolved". It looked so odd that politicos and newspapers decide that the "problem is solved". How did these guys assume that Tatas will be happy with the solution? Tata was not even apparently called for the discussion. And strangely the solution is that Tatas has to return some land to farmers which they never liked in the first place.

Today even the ruling party in Centre also claimed that it is they who have "resolved" the issue

Anyway today the same newspapers says Tatas is not thinking of looking back now. "Eating their own ***"

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Old 9th September 2008, 10:48   #395
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Exclamation from bad to worst

I think if its getting so much on Tata's nurves then they will neither build/run the Nano plant in Singur Nor the farmers will get their land back.

& the whole land/partly constructed factory will laze their like old castles for years.

I pity those poor farmers who dont understand what MB has done to them. Their family was getting jobs in Nano Plant but now land gone & because of MB there will be no working Nano Plant so NO JOBS!
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Old 9th September 2008, 11:01   #396
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This is setting a bad example for other industries too. Just read that Infosys is rethinking to invest here. They have said they will wait and watch this situation since there was so much of issues and also to see how the govt. keeps its promises on its own deals.
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Old 9th September 2008, 11:31   #397
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Originally Posted by mjothi View Post
This is setting a bad example for other industries too. Just read that Infosys is rethinking to invest here...
This was all over the news yesterday. Pai was saying, and I quote - "We have other destinations in the country...". He was mulling over the fact that even a court order was of no use and anyone who does not agree with the government can upset the ongoing work!
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Old 9th September 2008, 13:23   #398
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Once again politicians putting petty politics above national development. No wonder we do not have the mega projects they have in China and our capital airport is worse than regional airports in other countries.

MB played this issue for vote bank, I have yet to hear her demand that crop prices are raised. She does not care about farmers.

Tata should shift production to another state and leave MB and her rent a mob to provide employment in and aroung Singur.
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Old 9th September 2008, 20:59   #399
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Tata should sue WB in supreme court and ask for damages to cover their financial losses due to the delay.
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Old 9th September 2008, 22:24   #400
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Quote:
Originally Posted by Mpower View Post
cover their financial losses due to the delay.
Losses ???

Govt gave 200 cror loan Rs to TATA at 1% interest for 21 years.

That is more then 2000 cror Rs from your pocket and mine (As taxpayers).

Subsidies, tax breaks got Tata to Singur

Govt will also write off VAT/CST (again in terms of interest free loan).
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Old 9th September 2008, 22:53   #401
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Originally Posted by NetfreakBombay View Post
Losses ???

Govt gave 200 cror loan Rs to TATA at 1% interest for 21 years.

That is more then 2000 cror Rs from your pocket and mine (As taxpayers).

Subsidies, tax breaks got Tata to Singur

Govt will also write off VAT/CST (again in terms of interest free loan).
thats a govts job to promote their state and development. it isnt a favor -- its an incentive and almost all states would do that.
tata obviously has lost investment and time over it. something on lines of "Timecost" and setup cost in modern industry parlance. and also after this if Singur restarts how much of skilled high end officials would be willing to work there?
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Old 10th September 2008, 11:44   #402
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Originally Posted by METISWHG View Post
thats a govts job to promote their state and development. it isnt a favor -- its an incentive and almost all states would do that.
This is MY money (and every other taxpayer's) it must not be given to any business. Business can raise the cost of goods. Why should I pay for somebody else's car??

It would be better spent on Roads/ Hospitals/ Schools/ Collages. India needs lots of them.

And govt got taste of this medicine when it lost elections just after Nandigram fiasco.
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Old 10th September 2008, 12:14   #403
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Originally Posted by NetfreakBombay View Post
This is MY money (and every other taxpayer's) it must not be given to any business. Business can raise the cost of goods. Why should I pay for somebody else's car??

It would be better spent on Roads/ Hospitals/ Schools/ Collages. India needs lots of them.

And govt got taste of this medicine when it lost elections just after Nandigram fiasco.
no doubt about the fact that India needs a lot more roads, health and education facilities.
yup i agree that its the taxpayers money (money that all of us taxpayers pay, but most of us never raise a voice to get its accountability or what happened to it, unlike how we do for every other rupee that we spend), but suggesting that govt shouldnt promote such investments by breaks and only invest on infrastructure with it, is not the best idea to my mind.

given the current state, for an example I am more happy that with taxpayers money a factory is built by a group like Tatas which provids employment to many and gets the currency in circulation in two years time, rather than like in my hometown where a swiming pool built by govt with taxpayers money took ten years(after foundation) to be operational for just one year(its defunct after that), during which it went through multiple budget upgrades and that contracter(no offences to him) has a Merc S class by now.
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Old 10th September 2008, 13:28   #404
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Originally Posted by METISWHG View Post
suggesting that govt shouldnt promote such investments by breaks and only invest on infrastructure with it, is not the best idea to my mind.
I agree that giving breaks is a good idea to promote investment. Break means govt will not charge tax from some entity.

Here Govt gave actual money to TATA instead of breaks. And that money was not lying in govt accounts (West Bengal govt is in deficit). Govt has to borrow it from somewhere and I doubt that loan will be at 1% interest rate that it is going to charge from TATA.
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Old 11th September 2008, 02:51   #405
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I just read on Hindustan Times (How Tata got Singur cheap- Hindustan Times) that the 1 percent loan was dropped earlier in the year (post budget). If you take this out of the concessions, the one thing extra that WB has given over what Uttaranchal is giving is 30% corporate tax exemption from year 10.

I guess tax breaks are a way of life - if not for tax breaks, how would any of the SEZs make any business sense?

Question remains: What is going to be the solution to the crisis? Looks more and more likely that Tata will move out lock, stock and barrel
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