-The Hindustan Times Indian taxpayers may have lost as much as Rs. 3.8 lakh crore in scams in the power, aviation and coal sectors over the past eight years, the country's state auditor said in reports tabled before Parliament. The Comptroller and Auditor General charged the government with allotting coalfields and land for power projects and Delhi’s airport to private firms at a fraction of the market price, bringing the corruption issue...
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A misdirected audit
-The Indian Express When the Delhi Development Authority had the sole right to build houses in the capital, it was unable to meet the demand from an expanding population. If private builders stepped in to build where the DDA was not doing so, is it a fair calculation to say that the profit they could make was a loss to the government exchequer? The CAG’s estimate of loss to the government...
More »PMEAC Estimates 0.5% Farm Growth for 2012-13
-PTI Prime Minister's Economic Advisory Council today said poor monsoon is likely to pull down farm sector growth rate to 0.5 per cent in the current financial year, a projection that is even lower than in 2009-10 when monsoon was the worst in 28 years. The growth in the agriculture sector was one per cent in 2009-10 when production had fallen by 16 million tonnes due to poor monsoon. As many as...
More »'Coalgate': CAG says private firms gain Rs 1.86 lakh crore in coal block allocation
-PTI Government auditor CAG on Friday said private firms are likely to gain Rs 1.86 lakh crore from coal blocks that were allocated to them on nomination basis instead of competitive bidding, which amounted to the loss to national exchequer. The CAG in its report, tabled in Parliament, names 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various states. "Delay...
More »CPI Demands Changes in Food Security Bill
-PTI Lashing at UPA government for coming out with "lopsided" food security bill, CPI today said the policy of Above Poverty Line (APL) and Below Poverty Line (BPL) should be done away with and every citizens should be given equal priced foodgrains. "We are protesting against the central government for coming up with a lopsided food security bill. CPI opposes such a bill," CPI Secretary, Jammu Regional Council, Dr G S Charak...
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