Kolkata: The first round of talks between the West Bengal government and the Trinamool Congress, the state’s principal opposition party, on the Singur impasse ended inconclusively, though both side agreed to talk some more.
After a two-hour meeting at the Writers Buildings — the state secretariat — on Wednesday, Trinamool Congress leader Partho Chatterjee said his party would not budge from its demand for the return of 400 acres to those farmers who were unwilling to sell land for Tata Motors Ltd’s small car factory in Singur. “We will go ahead with our sit-in demonstration (in Singur) starting 24 August,” Chatterjee said before leaving the Writers Buildings.
The state’s commerce and industries minister Nirupam Sen said the government had explained why it was impossible to return 400 acres. The government acquired 1,006 acres for the factory almost two years ago.
“But the Trinamool says it can illustrate how it could be done without disturbing the project. We have asked them to put forth their suggestions. We will soon meet them again,” Sen added.
The chief minister also took part in the discussion, which the government later described as “constructive”.
Addressing chambers of commerce on Tuesday, Trinamool Congress chief Mamata Banerjee had said her party wasn’t opposed to Tata Motors’ factory in Singur or industrialization in general, but she wants the government to make sure it didn’t happen at the cost of poor farmers.
— Romita Datta
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India’s peak electricity shortage may hit 18.1%
Mumbai: The country’s peak electricity shortage may widen to 18.1% in the year to March as demand outstrips supply, according to a government report.
Peak demand this year may rise to 120,109MW against availability of 98,408MW, according to the Central Electricity Authority (CEA), while peak shortage was 16.6%. Power generators, dogged by equipment and labour shortages, haven’t kept pace with rising demand from homes, factories, shopping malls and cinemas in India, causing blackouts in many parts. The country expanded 9% last year, the second fastest pace among major economies.
India plans to add 10,178MW of capacity by March, according to the CEA report. The target is to build 78,700MW in the five years ending March 2012.
Peak shortages may be the highest in western India, home to the country’s financial hub Mumbai and large plants including Reliance Industries Ltd’s Jamnagar refinery. Demand in the region may exceed supply by 27.4%.
— Bloomberg
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Tata Motors may seek to sell investments
New Delhi: The country’s biggest truck maker, Tata Motors Ltd, may raise funds for its June purchase of Jaguar and Land Rover by selling investments to group companies as India’s benchmark equity index heads for its worst year on record.
The board scrapped a plan to raise funds by issuing convertible preference shares to help pay for the acquisition of Ford Motor Co.’s units, the company said in an emailed statement on Wednesday.