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Nano to become costlier by Rs9,000 from next month

Mumbai: Tata Motors is taking a minor price increase on the Nano, the world’s cheapest car. The hike is effective from 1November 2010, to partially neutralise the steep increase in input costs in the last two years. The average increase is about Rs9000 (ex-showrooms), with prices varying from city to city and model to model.

 As of now, Tata Motors has announced open sales of the Tata Nano in the states of Kerala (since August 2010) and Karnataka, Maharashtra, Uttar Pradesh and West Bengal (since October 2010).

 The company has tied up with 39 banks, non-banking finance companies (NBFCs), co-operative and gramin banks to offer customers with loans for purchasing the Tata Nano at attractive rates of interest. More such arrangements are in process. As a result of these tie-ups, the Tata Nano can be owned at an equated monthly instalment (EMI) of less than Rs. 3000.

 

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Plan Panel holds talks with industry ministry on 12th Plan

New Delhi, Oct 29 (PTI) The Planning Commission held discussions with the officials of the industry ministry on the Twelfth Five Year Plan (2012-17), which is likely to aim at 10% annual economic growth, reports PTI.

Planning Commission member Arun Maira in his meeting with industry ministry officials is believed to have sought their views on the structure of the next Plan which will come into force from 2012-13.

Maira also emphasized on greater participation of apex chambers in preparation of the 'Approach Paper', which will lay out the major targets, key challenges in meeting them, and make the growth more inclusive.

"While industry chambers have always been active in providing suggestions towards government policies, this time the Planning Commission is expecting even greater participation from them," an official said.

Preparation of the Plan is a herculean task and the process starts about 15-18 months ahead of its commencement.

Once the Approach Paper is prepared, it requires approval of the Cabinet and the National Development Council, which includes chief ministers of all states.

"It (Approach Paper) provides the architecture, which is fleshed out in detail in the Plan itself," the Planning Commission said.

With an aim at developing an "inclusive and participative approach" to the process, the Commission has decided that the Approach Paper will be evolved through a web-based consultative process in which all interested persons can participate.

"We have developed a multi-dimensional strategy matrix, which indicates some of the key areas we need to explore," it said.

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