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Corruption and Crony Capitalism in Modi's Gujarat

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Corruption and Crony Capitalism in Modi's Gujarat Empty Corruption and Crony Capitalism in Modi's Gujarat

Post by Guest Sat Apr 26, 2014 9:17 am

The rates at which the Gautam Adani-promoted Adani Group bagged land from the Narendra Modi-led Gujarat government for its port and special economic zone (SEZ) project — between Re 1 and Rs 32 per square metre — were much lower than other companies that set up units in the state. Concessional pricing apart, the group did not face land acquisition hurdles, as the state allotted non-agricultural government land for Adani Port and Special Economic Zone (APSEZ), the country’s largest multi-product SEZ spread across 15,946.32 acres (6,456 hectares) in Kutch district’s Mundra block.

By comparison, other companies setting up facilities in the state paid much higher rates: Tata Motors was given 1,110 acres for its Nano car plant in Sanand (near Ahmedabad) at Rs 900 per sq mt, Ford India paid at Rs 1,100 per sq mt for 460 acres close by, while India’s largest carmaker, Maruti Suzuki, bought about 700 acres in Hansalpur at Rs 670 per sq mt. Among other industrial groups, K Raheja Corp was sold land at Rs 470 per sq mt, while TCS had to pay at Rs 1,100 per sq mt and Torrent Power at Rs 6,000 per sq mt. (one acre equals 4,046.86 square metres).

http://www.business-standard.com/article/companies/adani-scores-over-others-in-bagging-cheaper-land-from-modi-govt-114042501228_1.html

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