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Private firms got undue benefits of Rs 1.8L cr in 'Coalgate': CAG-Sanjay Dutta & Pradeep Thakur

The Comptroller and Auditor General's final report on allocation of coal blocks between 2004 and 2009 without auction is expected to peg the value of "undue benefits" that the government extended to private entities alone at more than Rs 1.8 lakh crore, sources have indicated. The last draft of the report, first reported by TOI on March 22, had said the government extended undue benefits of Rs 10.67 lakh crore by...

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No free mines with ultra mega power plants anymore: Coal ministry-Soma Banerjee

Bidders for upcoming ultra mega power plants in Odisha and Chattisgarh will have to pay a reserve price to the state government for coal mines that come bundled with the project, ending a long established policy regime in which the mines were allotted free. The coal ministry is in the process of finalizing norms for calculating the reserve price for the mines, bidding norms and a model agreement for which it...

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Spectrum order issues: Prez reference in SC

-The Business Standard   The Union government on Thursday approached the Supreme Court with a presidential reference on various issues relating to its recent judgment in the 2G spectrum scam. The apex court, meanwhile, would take up the government's review petition tomorrow. The presidential reference, under Article 143 of the Constitution, and the review petition raise similar issues. The main concern of the government is the perceived interference of the judiciary in the...

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Welcome folly: CAG's flawed 'coal scam' report serves a purpose

-The Economic Times With its draft report alleging a coal scam, duly leaked to the media, the Comptroller and Auditor General (CAG) is making a habit of choosing sensation over sense. Its allegation of loss to the exchequer in allocation of 2G spectrum colours the public discourse on the subject, but was discarded by the CBI court in the telecom case as the basis for a formal charge.  Its assumption that the...

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CAG now has 'zero tolerance for error': Rai

-The Business Standard The Comptroller and Auditor General of India (CAG) on Wednesday called for a level playing field for getting information for auditing purposes. Pointing out that responses from government departments were often delayed, CAG Vinod Rai said “the auditor is not given the powers which a man on the street has”. He was speaking at a panel discussion at the Business Standard Annual Awards here on Wednesday. Rai was referring...

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