The coal ministry has told the national auditor that its observations about “windfall gains” to private and state-run entities as a result of allocation of coal blocks without auction were “fallacious and erroneous”.   The ministry has rejected the Comptroller and Auditor General’s (CAG)’s observation that due process was not followed in allocating blocks, and insisted that a “fair and transparent” system was followed, and decisions taken after intense scrutiny and extensive...

-The Hindu   Public sector participation in discovering, developing and making a drug available at affordable prices may be the only way to find new cures for diseases like TB, says Pof Samir Brahmachari on the occasion of World Tuberculosis Day Tuberculosis (TB), a raging problem in Europe and Americas till early 20 century, now predominantly affects the developing world where it continues to be a major health problem and is making in...

Dairy farmers and contractors in western Uttar Pradesh and Punjab are on a warpath after private milk companies reduced procurement prices to take advantage of a bumper milk production. Farmers allege that companies are profiteering because they have not simultaneously reduced consumer prices. But companies say they have huge stocks of unsold milk and milk powder and a cut in procurement prices is to bring pressure on government to allow exports.  Cooperatives...

The government continued to give away coal blocks without bidding even after a meeting headed by Manmohan Singh (in his role as coal minister) on October 14, 2004 decided that all future allocation would be through the competitive route, says a CAG report. The government auditors' draft report on performance of coal block allocations also says the Centre opted for the longer process of amending mining laws when it could have...

To lose bank guarantees for its four power plants in Rajasthan The Union Ministry of New and Renewable Energy (MNRE) has found Lanco Infratech guilty of false commissioning of solar power plants in Rajasthan. The company will now lose its first set of bank guarantees for the remaining four solar photovoltaic plants in Rajasthan. It has already lost bank guarantees of three other plants being set up in the state after...