Rs. 30,000-crore sops for Nano project: document
| Modi orders probe into leak of details |
A sellout: Congress
Challenges Modi to debate on project
AHMEDABAD: The Narendra Modi government is reported to have offered over Rs. 30,000 crore in sops to Tata Motors to bring its Nano car project to Gujarat.
The government has agreed to not only provide a soft loan of Rs. 9,570 crore at a negligible interest of 0.1 per cent for setting up the project but also defer repayment for 20 years, besides initially meeting all the cost of infrastructure development, cut in power tariff rates and an expenditure of Rs. 700 crore on shifting machinery and equipment from Singur in West Bengal to Sanand.
While the Chief Minister’s office refused to give details of the October 7 agreement signed between the government and Tata Motors, an official document submitted to the Cabinet for approval was leaked to the media, bringing to light the concessions offered to the company to bring the “prestigious” project to Gujarat.
Mr. Modi has reportedly ordered an inquiry into the leakage of the document. more
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