Loot of 700 crores with the help of Parliament.

Monday, March 12, 2007
loot of 700 crore with the help of parliament
Finally the agreement is singed by both parties the west bangal govt & the tata group. According to the agreement the land is allotted for 90 year on lease. Tata has to pay 855.5 crore for this within the lease period. The west bangal industrial board has borrowed rs 150 crore @ 10% interest to acquire the land . apparently is shows that tata has paid more then 800 crore for this deal but the mode of payment expose the whole sin done by west bangal govt to its people. The detail of payment is as following .
period
Total payment for the period( in crores)
Payment per year
( In crores)
1 to 5 year
5
1
6 to 10 year
6.25
1.25
11 to 15 year
7.8
1.56
16 to 20 year
9.75
1.95
21 to 25 year
12.2
2.44
26 to 30 year
15.25
3.05
31 to 40 year
50
5
41 to 50 year
65
6.5
51 to 60 year
84.5
8.45
61 to 90 year
600
20
total 855.5
for this big land loot in name of sez tata has to pay nothing at the time of acquiring the land.. if we summarise the table then tata has to pay
firsty 30 year- 56.25 crore
next 30 year - 200 crore
final 30 year - 599 crore
on the other hand west bangal industrial development board has borrowed 150 crore rupee @ 10% per annum on interest means the board will pay 15 crore per year as interest . by multiply the 15 crore to 90 year(15*90) = the amount of interesr is alone is 1350 rupee & tata has to pay only 855.5 crore. It means tata got the prize of 700 crore . beside it west bangal industrial development board has already borrowed 150 crore & the inflation rate is 6% at present . after 90 year what will be the inflation rate it is a subject of imagination . on the context of that inflation tata has to pay very little amout of the land because the value of 600 crore after 90 year will be 100 crore or some more
to tata will get this whole land on 100 crore ‘s only while the interest money will be paid by west bangal govt from the net saving or tax collected money from people of bangal
the total subsidy that tata will get is 1400 crore .
decide it is a development or loot?
These are the people who oppose the subsidy of wheat, kerosene oil & other necessary thing for survival of majority people . the media made a great hue & cry but keep mum on
4:02:58 PM
Posted By garry kristan Comments (1) Uncategorized
Comments
K.Venugopal Monday, March 12, 2007 9:37:01 PM
Your sums prove its a loot. But that's Ok. Tatas are nice folks and I don't mind the Govt. giving them some money, even if it is taxpayer's money. What is horrible is that 900 acres of arable land is being killed. They could have had the project on arid land. Well, when we starve for food, maybe we can zip around in Tatas, tightening the seat-belts real tight.