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Statement from Mr. Ravi Kant, Managing Director, Tata Motors, on Fiscal Package announced by the Government on January 2, 2009 Press kit

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2 January, 2009

We welcome the positive steps announced in the fiscal package today. The government needs to work on ensuring that ultimately liquidity reaches customers at reasonable costs. Although some steps declared today would help commercial vehicles, the government needs to take many more measures to substantially stoke demand as that has gone in a reverse gear. We will continue to expect more positive measures forthcoming from the government.

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