Mr. B Muthuraman |
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During the telecast in the month of March, the Managing Director,
Mr B Muthuraman took the opportunity to congratulate the Finance Minister on an excellent
Union Budget. “In the Union Budget we must compliment the Finance Minister as it has
been the best budget during the last several years. It is a progressive budget, which
reserves a lot of money for social infrastructure and rural infrastructure. The corporate
tax has been brought down by 3% and the rule of depreciation has been amended, which will
benefit the Company,” Mr Muthuraman elaborated.
As part of its own effort to initiate
social development in areas that the Company is creating assets, Mr Muthuraman said,
“we took the Lifeline Express to Jajpur Road because we are constructing a new steel
plant at Dubri.” The Company’s attention to its societal obligations - including
Safety of the workers and need to safeguard the Company’s Provident Fund against
erosion by unnecessary withdrawals through the facility of non-refundable loans - formed
the key theme of the videocast. Another important social initiative of which the Company
is a part, the UN Global Compact Forum was explained to the viewers by Mr Muthuraman.
“It is a proud moment that Tata Steel and Jamshedpur are hosting the first Regional
Conclave of the South East Asian region,” he said
The achievements effected by the
Company’s departments and Divisions, especially that of Marketing in promoting the
Company’s brands were appreciated by Mr Muthuraman.
“In Tata Steel we have adopted a
policy to stress on long term contracts so we have to retain customers,” Mr
Muthuraman made clear when asked whether the price drop some months ago was part of a
strategy. “ We have some direct customers, they make cars and their prices do not get
revised. As the people of India buy from them we have to give stability to our customers.
This is our strategy when we deal with long-term, stable customers. That is our
philosophy,” he shared.
In response to a question by Mr U K
Mukherjee of SPTG on whether NatSteel is a division of Tata Steel, his response was,
“ NatSteel is not a division of Tata Steel, but a 100% subsidiary and will continue
to be so, it means that it would be shown on the balance sheet of Tata Steel in a
consolidated form.”
Admitting that there was scope for
improvement at the Tata Main Hospital, Mr Muthuraman confirmed to Mr M K Singh of LD2 that
the administration of Tata Main Hospital is working towards improving the facilities
there.
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