Nano is the biggest Heist India has ever seen and Tata beats Ramalinga Raju hands down!
When the world Auto initially said it is not possible to produce a car under a lac neither they were ignorant not were they arrogant. But then they were only talking about Auto Engineering they were not talking about Financial Engineering.
Nano is a product of convoluted Financial engineering and not auto engineering.
Actual price paid by the collective consumer is 3 Lac and not 1 lac.
1. 9750 Cr virtually interest free loan at 0.1%p.a. translates to 1.35 Lac subisidy if you take 11% bank FD rate (prevailing on the date of loan given to Tata)and Tata produces about 85,000 cars p.a.
2.1110 Acres free land; and no stamp duty and no registration charges.
3. Heavily subidised Power and free water and other tax concessions.
All of these aggregates to atleast Rs.65,000 per car taking the total subsidy to 2 Lac per Nano; over and above the consumer pays 1 lac to buy this piece of tin. It is the tax payers money.
That 2 lac profit is shared by Tatas who pocket major portion and the politician who arranged these facility.
When Gujarat riots were happening Ratan Tata along with Alyque Padamsee vociferously demanded the ouster of Modi. Now the same Tata goes and hugs Narendra Modi whose ouster Tata demanded.
This is what Heist called Nano and Theif called Tata!
Mamata was right when poor farmers farming land was usurped. Farming soil takes millenia to form!
