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Rs 1-lakh dream may cost more

business Updated: Sep 25, 2008 21:10 IST
Avijit Ghosal
Avijit Ghosal
Hindustan Times
Rs 1-lakh dream may cost more

The shattered dream that the Tatas left behind in Singur will be worth at least Rs 2,000 crore, out of which more than

Rs 250 crore have already been spent from the public exchequer. However, a proper balance sheet of the disaster may never be drawn up simply because of the huge intangible investments by the government.

Even the actual investment by the government is far higher as the above figure doesn’t include the administrative expenses.

Ratan Tata has already admitted that Tata Motors has sunk in Rs 1,500 crore in the project. And with more than half of the 55 proposed vendors beginning construction works, about Rs 200 crore have already been invested, government officials said.

For the acquisition of 997.11 acres WBIDC has already spent Rs 135 crore. The enhanced compensation package will cost another Rs 50 crore. Even if the government reneges upon paying the enhanced portion, the figure will come down marginally say bureaucrats.

A sum of Rs 60 crore has already been spent on improving drainage in and around the Singur plant to address the water-logging problem. To solve this problem the government embarked upon a Rs 170-crore drainage project, of which Rs 60 crore has already been spent. The state government has also incurred a huge expenditure, at least Rs 20 crore, in order to meet sundry expenses for the Singur project. A sum of Rs 8.9 crore was also spent towards registration charges, mutation, land conversion cost, survey and other related activities.