ravishingravi Posted August 17, 2012 Posted August 17, 2012 :yay::yay: Forget 1.76 lakh crores people. This is new figure to hold on to. More power to Kangress. "New Delhi: The Comptroller and Auditor GeneralÃÔ (CAG) reports on allocation of coal blocks without bidding and the Delhi airport concession given to GMR and power projects was tabled in Parliament on Friday. The CAG report on allocation of coal blocks between 2004 and 2009 without auction has pegged the value of ÃÖndue benefits has caused an overall loss of over Rs 10 lakh crore. The report says that 44 billion tonnes of coal was given away at throw-away prices, while 194 coal blacks were allocated on mere recommendations. Importantly, as against the draft report, the final CAG report was silent on the role played by Prime MinisterÃÔ Office in allocation of coal. The major beneficiaries included Tata Group entities, Jindal Steel & Power, Anil Agarwal Group firms, Essar Group's power ventures, Adani Group, Arcelor Mittal and Lanco. "Delay in introduction of the process of competitive bidding has rendered the existing process beneficial to the private companies. Audit has estimated financial gains to the tune of Rs 1.86 lakh crore likely to accrue to private coal block allottees," CAG said in a report on allocation of coal blocks. "A part of this financial gain could have accrued to the national exchequer by operationalising the decision taken years earlier to introduce competitive bidding for allocation of coal blocks," CAG said. The auditing body said it is "of strong opinion that there is a need for strict regulatory and monitoring mechanism to ensure that benefit of cheaper coal is passed on consumers". Delhi airport The CAG report on public-private partnership for the Indira Gandhi International Airport had reportedly said that Delhi International Airport (DIAL), which runs the utility, has a potential to earn Rs 1,63,557 crore over a 60-year period from the land given to it on a lease rent of Rs 100 per annum, hurting the interest of the government. The report pointed out that 239 acres of land for construction of the terminal was given away to GMR Group owned Delhi International Airport Limited (DIAL) on lease as against the market rate of Rs 24000 crore rupees. Also, even after getting land at such low rates, DIAL was charging User Development Fee from passengers using the airport. The CAG said that the company has made over Rs 3400 crore by way of UDF and that the clause allowing DIAL to charge UDF was not in the initial agreement but was later introduced by the civil aviation ministry. CAG said contrary to provision of the airport concession agreement, DIAL was allowed to use the amount collected as Development Fees to meet the project costs. "In face, only 19 per cent of the project cost came from equity, approximately 42 per cent came from debt. The remaining project costs were met from security deposits and Development Fees". "Whenever DIAL raised an issue regarding revenue to accrue to it or expenditure to be debited to government in contravention to the provisions of Operation Management Development Agreement (OMDA), the Ministry and AAI interpreted the provisions always in favour of the operators and against the interest of the government," it said. Power The CAG also raised questions on some power projects in the country. On the Sasan Power Project of Reliance Power, the auditor said that differential tariff has led to a gain of Rs 29000 crore for the company. CAG said bidding process was vitiated by allowing Reliance Power to use excess coal from three blocks allocated to Sasan project. CAG in its report tabled in Parliament said subsequent to award of the 4,000 MW Sasan ultra mega power project to RPL, the government granted permission to the company to utilise the surplus coal from three mines attached to the projects for the group's Chitrangi project in Madhya Pradesh. CAG said the permission to use of excess coal from Moher, Moher Amlohri and Chhatrasal blocks allocated to RPL's Sasan power project after its award "not only vitiated the bidding process but also resulted in undue benefit to RPL". CAG said it was not clear how Power Ministry in October 2006 came to the conclusion that two initially allocated blocks for the Sasan project (Moher and Moher Amlohri) would be inadequate to fire the 4,000 MW plant. "The basis on which Ministry of Coal was prevailed upon in October 2006 itself to allot an additional block (Chhatrasal) of coal to Sasan ultra mega power project by de-allocating it from the public sector NTPC is not clear," it said. The audit estimated the financial benefit that will accrue to RPL on the basis of comparison of tariff of Sasan project (Rs 1.196 per unit) with that of Chitrangi project (Rs 2.450 for Madhya Pradesh and Rs 3.702 for Uttar Pradesh)." :yay:
ganeshran Posted August 17, 2012 Posted August 17, 2012 If only corruption was a sport in the Olympics :wall:
jairamesh Posted August 18, 2012 Posted August 18, 2012 There is more coming folks, Commonwealth Games, Mumbai Property scam, Air India. Hold on to your seats!
jairamesh Posted August 18, 2012 Posted August 18, 2012 Indira Gandhi International Airport had reportedly said that Delhi International Airport (DIAL), which runs the utility, has a potential to earn Rs 1,63,557 crore over a 60-year period from the land given to it on a lease rent of Rs 100 per annum, hurting the interest of the government. Seriously, what the fecK!!!!!!!!!
Clarke Posted August 21, 2012 Posted August 21, 2012 According to letters, the BJP governments of Rajasthan and Chhattisgarh had opposed auction of coal blocks. The CAG report on coal has calculated losses on the basis of coal blocks not being auctioned. Sources say that apart from Chhattisgarh and Rajasthan, even West Bengal government opposed auction of coal blocks. In 2003, the Atal Bihari Vajpayee-led NDA government had reportedly made 24 allocations following the same policy. http://ibnlive.in.com/news/bjpruled-states-had-opposed-coal-block-auction/284166-37-64.html Standard Kangresi response, you did it hence we did it. If the above is true, can both the ruling party & the opposition be taken to task ?
Sachin=GOD Posted August 23, 2012 Posted August 23, 2012 I used to respect MMS but now I have lost all respect for him - one scandal after the other keeps on happening but he has just been sitting there like a statue. And BTW, he himself had the coal ministry portfolio for a long time so this time Kanngressis can't even say that he is not responsible/not involved in this. IMO he should resign immediately if he has any integrity.
Trichromatic Posted August 28, 2012 Posted August 28, 2012 So, in a statement issued yesterday MMS has said that CAG report is flawed. Big shock for those who expected some kind of explanation from the govt.
ravishingravi Posted August 28, 2012 Author Posted August 28, 2012 So' date=' in a statement issued yesterday MMS has said that CAG report is flawed. Big shock for those who expected some kind of explanation from the govt.[/quote'] What ? Did you miss his shayari ?
CSK Fan Posted August 28, 2012 Posted August 28, 2012 So' date=' in a statement issued yesterday MMS has said that CAG report is flawed. Big shock for those who expected some kind of explanation from the govt.[/quote'] Some of the explanations made total sense. 1) 26 out of 27 mine have not started mining, where did the loss come from if coal mining didnt start at all? 2) State goverments ruled by BJP allies vetoed whenever congress wanted any change 3) Most of the policies were just carried froward from BJP days and not put in place by congress, so why is BJP making such a hue and cry?
Desi Cartman Posted August 28, 2012 Posted August 28, 2012 Some of the explanations made total sense. 1) 26 out of 27 mine have not started mining, where did the loss come from if coal mining didnt start at all? You know why ? because its been treated as an asset and has been resold or companies have made money because of its value. A company which came into being on the day it was given the contract with a capital of 1 lakh rose to value of 400cr. A day old company. Also a loss is a loss, can govt resell it or who owns the coal in the mine now ? Just because I buy a drink of you worth Rs 40 for 1 paisa and decide not to drink it for sometime doesnt mean its yours. Just because I haven't consumed or sold it doesnt mean it belongs to you. So you have 1 paisa and I have a drink worth 40 bucks 2) State goverments ruled by BJP allies vetoed whenever congress wanted any change Sab chor hain , but the explanation from state govt is that money goes to central govt only. 3) Most of the policies were just carried froward from BJP days and not put in place by congress, so why is BJP making such a hue and cry? They sold so many mines that as you said only 1 is in use so far. I think the # of mines sold is more than the total in the history of India till 2004. Here is what happened : * Govt realized that India needs energy thus moar coal. * Epic way to make money before bidding process is enforced. So sell as many as we can * Logic they are trying to sell janta : cheaper coal = cheaper power but once a company buys it then they will sell it at going International/national market rate. * Logic of not been mined : Who owns it ? will govt make any money if 26 become operational tomorrow ?
Tiger80 Posted August 29, 2012 Posted August 29, 2012 Some of the explanations made total sense. 1) 26 out of 27 mine have not started mining, where did the loss come from if coal mining didnt start at all? 2) State goverments ruled by BJP allies vetoed whenever congress wanted any change 3) Most of the policies were just carried froward from BJP days and not put in place by congress, so why is BJP making such a hue and cry? It is surprising to see how so many educated people even buy the logic of congress.If 26 out of 27 companies did not start coal mining then what the government was doing? According to Congress the purpose of allotment was to generate power quickly to end the power shortge of the country.If 26 companies are still sitting on Coal blocks then it means that Coal blocks were distributed to wrong companies.
asterix Posted August 29, 2012 Posted August 29, 2012 So you wanted to provide cheap energy to public and wanted to develop coal sector and then you say that coal has not been mined yet for so many years (so where's the loss?). Why that irony? Amazing how educated people buy that logic..,
surajmal Posted August 29, 2012 Posted August 29, 2012 It is surprising to see how so many educated people even buy the logic of congress.If 26 out of 27 companies did not start coal mining then what the government was doing? According to Congress the purpose of allotment was to generate power quickly to end the power shortge of the country.If 26 companies are still sitting on Coal blocks then it means that Coal blocks were distributed to wrong companies. Having a degree doesn't make one educated even if John Locke would have you believe otherwise.
Sachin=GOD Posted August 29, 2012 Posted August 29, 2012 Some of the explanations made total sense. 1) 26 out of 27 mine have not started mining, where did the loss come from if coal mining didnt start at all? 2) State goverments ruled by BJP allies vetoed whenever congress wanted any change 3) Most of the policies were just carried froward from BJP days and not put in place by congress, so why is BJP making such a hue and cry? you are probably the only person in India (apart from the Kaangress workers of course) to be convinced by the "explanation" given by Kaangress.
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