Thursday, March 22, 2012

FYOQ News

FYOQ News

Coal Block Allocation Scam – Government estimated loss around 10.7 lakh crores by CAG

Posted: 21 Mar 2012 09:46 PM PDT

After the 2G Scam revelation, here is one other report(draft condition as of now) that is spreading today about coal block allocation scam in India.

And the intensity of this scam as per Comptroller & Auditor General’s draft report (not final) is the biggest and that is about 6 times in magnitude as compared to massive 2G Scam.

As per this draft report which has yet to be finalised namely Performance Audit Of Coal Block Allocations” Government lost around 10.7 lakh crores.

It says that – Government lost Rs 10.7 lakh crore by not auctioning coal blocks.

As per this report – Between 2004-2009 155 coal acreages were given to some of the private commercial entities without auction. And these comprises both private and government companies(about 100 companies).
Posted by Suresh at 9:16 PM

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