14 August 2012

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CAG Coalgate Scam Report Coal Mine Allocation Loss to Indian Citizens Rs.1.86 Crore

CAG Coalgate Scam Report Coal Mine Allocation Loss to Indian Citizens Rs.1.86 Crore

Prime Minister Manmohan Singh held the Coal Ministry portfolio from 2006 to 2009.


In year, 2004 competitive bidding was suggested.
However, a six-year delay in moving to competitive bidding led to huge losses to poor Indian citizens.

Till 2004 June, only 39 blocks were allotted,
142 allotments were made between July 2004 and 2006 to private and government companies.

CNN IBN reported that the final draft of the CAG report on the coal blocks allocation, accessed by CNN-IBN, says that the allocation of captive coal mines from 2004 to 2006 was not transparent.

CAG report said following companies benefited because of this

1)  
Tata group

2)  
Naveen Jindal group

3)  
Essar group

4)  
Abhijeet group

5)  
Laxmi Mittal's Arcelor

6)  
Vedanta

CAG does not mention the role of the PMO and state governments in the coal blocks allocation.

The CAG says the allocation made by the steering committee was not transparent and helped many private players.
As many as 15 blocks given to private players did not even start production till March 2011.

Suggested Reading –

Full Report on Coalgate Scam CBI starts preliminary inquiry CBI will not probe PM Manmohan Singh

http://realityviews.blogspot.in/2012/06/full-report-on-coalgate-scam-cbi-starts.html

Reality views by sm –

Tuesday, August 14, 2012

Tag –
Coalgate Scam CAG Final Report


7 comments:

MEcoy August 16, 2012  

i think every thing government would do must be transparent

vijay kulkarni,  August 19, 2012  

hopeless government which doeSnt have respect to constitutional body like CAG .always blaming on others for their misdeeds.

Anonymous,  August 27, 2012  

To accept recommendations or not is the perorgative of the Decision making authority . Further CVC MANUAL is very clear on cases of vigilance .Allocation means sold off and it is for the alottee to use or not use As regards Corruption why to talk of UPA or BJP there are bosses of other parties who have faced or are facing corruption charges . With due respect Kejariwal should therefore Gharo all the political parties bosses. He should further seek mandate that there should be only one person to vote for and that is Kejriwal the greatman ,the final deciding authority what is right and what is wrong.

Don Blankenship October 11, 2012  

The coal trucks are one of the best ways to gain coal. After mining a full inventory of coal the only other place you will find so much coal ore is within the Mining.

Don Blankenship

Brian Kale November 30, 2012  

To accept recommendations or not is the perorgative of the Decision making authority . Further CVC MANUAL is very clear on cases of vigilance .Allocation means sold off and it is for the alottee to use or not use As regards Corruption why to talk of UPA or BJP there are bosses of other parties who have faced or are facing corruption charges . With due respect Kejariwal should therefore Gharo all the political parties bosses. He should further seek mandate that there should be only one person to vote for and that is Kejriwal the greatman ,the final deciding authority what is right and what is wrong.