-The Hindu Not only has the Comptroller and Auditor General (CAG) defended its position vis-à-vis allegations that it is exceeding its constitutional mandate, it has also been vindicated by the then former Finance Minister, Pranab Mukherjee. At an Economic Editor’s Conference in 2011, he said, “I am making it clear that I do not think the CAG is exceeding its jurisdiction, because the basic responsibility of the CAG is to identify...
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Loss figure not sacrosanct, we are open to debate: CAG-Pradeep Thakur
-The Times of India The estimate of Rs 1.86 lakh crore mentioned in the CAG report on Coalgate as "windfall gains" to private players who bagged coal mines allocated by the government without bidding is not sacrosanct, according to senior sources in the auditing agency. "We have never claimed that our estimate is not open to debate," sources said, adding that even the expression "windfall gains" was not that of the auditor....
More »Government ready to take up bill to amend Coal Mine Nationalisation Act: Coal Minister Sri Prakash Jaiswal-Rohini Singh & Soma Banerjee
-The Economic Times The government is ready to give up its monopoly over coal mining to meet the requirements of the economy, if BJP supports a long-pending legislation to amend the Coal Mine Nationalisation Act (CMNA). "We are ready to take up the bill and open up the coal sector to increase production. This is the only way forward and there is a consensus within the government on this. Once BJP comes...
More »A watchdog that bites
-The Hindu One of the first principles that students of auditing are taught is that auditors are watchdogs and not bloodhounds. The Manmohan Singh government would have us believe, in the wake of the Comptroller and Auditor General of India’s reports first in the 2G case and now in the coal mining issue, that this basic principle is being violated by the incumbent CAG. Why should the CAG comment on the...
More »Law ministry twice advised for auction but coal ministry ignored: CAG-Sanjay Dutta & Pradeep Thakur
-The Times of India Pointing out that the government extended windfall gains of Rs 1.86 lakh crore to private players by distributing coal blocks without bidding over years, the CAG has said, "A part of this financial gain could have accrued to the national exchequer by operationalizing the decision taken years earlier to introduce competitive bidding for allocation of coal blocks. Therefore, audit is of strong opinion that there is a...
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