MODI: you don’t need a Govt to be POOR but you do need it to be RICH! For 1100 acres of land in Sanad in 2008 Tata Motors paid Rs 900/sqm to the Gujarat Government. The government acquired the land at Rs 1,200 per square meter from the farmers this does not include expenses for acquisition. Tata Motors only invested Rs 2000 crores and got a government loan of Rs 9,570 crore for 20 years at 0.1 per cent rate of interest. This loan was 23% of Gujarat’s budget for 2008. On top of other subsidizes;100 acres of land at a highly subsidized rate near Ahmedabad for Tata township. (Tata has recovered part of their Rs 2000 crore in Township and rest in over billing in Nano) Modi has lured away Nano plant using huge amount of money directly from Gujarat government’s coffers. What has the state gained till now, Nano has failed, so have “cascading effects of the plant” Tata Motors’ Sanand plant stays idle (April 2013 plant utilization was mere 4.5%). The attraction for corrupt Industrial Houses and MNC’s is not Modi but Free Money. Practically same story is for Ford, Suzuki, ADANI, Ambani etc. on top of this they all received various Incentives in other words poor Tax Payers are paying to the rich multi billion corporations. Total Subsidies to TATA Rs 30,000 Crore, Suzuki 20,000 Crore & Ford 20,000 Crore. Under Modi Rule Adani GP revenue from $765 Million in 2002 rose to $8.8 Billion in March 2013 while net profits climbed even faster. Income Tax Incentives 10 year corporate tax holiday on export profit – 100% for initial 5 years and 50% Corporate Tax Holiday for the next 5 years Exemption from dividend distribution tax Indirect Tax Incentives Zero customs duty Zero excise duty Exemption from central sales tax Exemption from service tax Under Modi 60,000 small scale industries shut down Over 5,500 farmers in the last 10 years have committed suicide in the state but police have been instructed by Modi govt not to register cases. CAG reports from 2001-2012/13 show corruption to the tune of Rs 1.5 lakh crore. The state took nine years to appoint a Lok Ayukta. Gujarats budget increased from Rs 28,000 crore in 2001 to Rs 1,20,000 crore in 2013-14, public debt during the same period increased from Rs 26,000 crore to Rs 1,76,000 crore.
Posted on: Mon, 12 May 2014 00:40:55 +0000
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