CONGRESS blames Gujarat’s extension of Rs.10,000 cr loan to the Tata Nano project at  0.1% interest for 25 years

New Delhi : Taking a cue from Rahul Gandhi’s attack on Narendra Modi for the ‘toffee model’ of development, the Congress Party on Thursday claimed that every Nano car manufactured and sold by the Tata Group in Gujarat cost the state’s taxpayers Rs 40,000.

This is so because the Modi Government extended a loan of Rs 10,000 crore to the Tata Nano project at 0.1 per cent interest for 25 years. As against this, the farmers in the state have to shell out 12 per cent interest on loans.

“The development-oriented largesse to the House of Tata is more than what the Gujarat government spends on health and education,” the Congress Party has asserted.

 In a write-up on its website, the Congress has elaborated how one single rupee has tremendous possibilities in Gujarat, as children can use it to buy a toffee and while industrialists can get large tracts of land. But there is a problem with Modi’s ‘toffee model’, since toffees are widely available, while the state’s largesse is reserved for only a select few business houses.  For example, land equalling the size of the city of Vadodara had been practically gifted away for a mere Rs 300 crore, to a single individual, the industrialist Gautam Adani, at the rate of Re. 1 per sq metre and a stretch of sea beach, equalling Mumbai’s entire coastline, was sold for just Rs 33 crore. That is how Adani’s total wealth, which was just Rs 3,000 crore five years ago, has today swelled to Rs 40,000 crore, courtesy Modi.  “But if you are a poor farmer earning a living by tilling land in Gujarat, chances are that you might be thrown out of your land and branded as an ”outsider”, as it happened with the Sikh and Jat farmers of Kutch, who were dispossessed from the very land they had cultivated for decades,” the Congress said.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal