> Have just read the Hindu Link of Amustment PArk.
>
> Clear as crystal:- DMRC is broke --> their repayments
> to Govt of Japan starts next year (ie 2007) and their
> revenues from metro operations don't justify their
> existence (like every other metro in the world).
>
> Here we are in Dwarka, getting water for 1 hour every
> 3 days and DMRC is setting up a 10 acre water park.
> This is criminal wastage of community resources.
>
> If the Japs are going to be getting 300 crores per
> year as payback on a 6000 crore loan ==> my trusty
> little EMI Calculator computes this to be an interest
> rate of 0% - hardly a "soft" loan and implying
> skullduggery afoot.
Do not fully understand why this is not a soft loan, or why skullduggery is
afoot.
It is a 0% interest loan, though the loan amount terms aren't "6000 crores
for 20 years". You can look at it in a number of ways, one of which is as a
bundle of 20 "genuinely interest free" (GIF) loans of 300 crore each, for a
range of periods of 1 year, 2 years, 3 years and so on upto 20 years. Or a
GIF loan of Rs 6000 crores for perhaps 8 years, give or take, (my finance
maths runs out here). Sounds "soft" to me.
This does not take away from, nor add to, your stance that we could have
bargained harder given all the good we're doing them (admittedly, a slight
re-statement of your position that *they* could have done more).
Skullduggery. Now that implies a rodent-odour arising from the knowledge
that these are unusually hard "soft" terms, out of line with usual practice.
Interested to hear more.
Since the cost is calculable, hang the GIF-ness, I would like to hear your
views on whether it is worth it or not, and why. Are the govt's cost-benefit
calcs honest/robust, for example? What about plannerly perspectives, MP or
otherwise?
Warmly
Itu
--------------------
Itu Chaudhuri Design
B189 Greater Kailash I
New Delhi 110048
tel 91 11 29243993/29233994
>
> Clear as crystal:- DMRC is broke --> their repayments
> to Govt of Japan starts next year (ie 2007) and their
> revenues from metro operations don't justify their
> existence (like every other metro in the world).
>
> Here we are in Dwarka, getting water for 1 hour every
> 3 days and DMRC is setting up a 10 acre water park.
> This is criminal wastage of community resources.
>
> If the Japs are going to be getting 300 crores per
> year as payback on a 6000 crore loan ==> my trusty
> little EMI Calculator computes this to be an interest
> rate of 0% - hardly a "soft" loan and implying
> skullduggery afoot.
Do not fully understand why this is not a soft loan, or why skullduggery is
afoot.
It is a 0% interest loan, though the loan amount terms aren't "6000 crores
for 20 years". You can look at it in a number of ways, one of which is as a
bundle of 20 "genuinely interest free" (GIF) loans of 300 crore each, for a
range of periods of 1 year, 2 years, 3 years and so on upto 20 years. Or a
GIF loan of Rs 6000 crores for perhaps 8 years, give or take, (my finance
maths runs out here). Sounds "soft" to me.
This does not take away from, nor add to, your stance that we could have
bargained harder given all the good we're doing them (admittedly, a slight
re-statement of your position that *they* could have done more).
Skullduggery. Now that implies a rodent-odour arising from the knowledge
that these are unusually hard "soft" terms, out of line with usual practice.
Interested to hear more.
Since the cost is calculable, hang the GIF-ness, I would like to hear your
views on whether it is worth it or not, and why. Are the govt's cost-benefit
calcs honest/robust, for example? What about plannerly perspectives, MP or
otherwise?
Warmly
Itu
--------------------
Itu Chaudhuri Design
B189 Greater Kailash I
New Delhi 110048
tel 91 11 29243993/29233994