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CAG estimates: Our likely loss Rs. 38,00,00,00,00,000

-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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Seven-and-half years from an opaque to a transparent process for coal allocation

-The Hindu The Comptroller and Auditor-General’s report on the allocation of coal blocks, reviews how it took seven-and-half years to move the allocation procedure for captive coal blocks from a discretionary procedure to competitive bidding that was demonstrably transparent. It turns out that the process began within six weeks of UPA-I coming to power in 2004. Ironically, the amendment to the Mines and Minerals (Development and Regulation) (MMDR) Act rules for auction...

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10 facts on Rs 1.86 lakh crore 'Coalgate' loss

-Yahoo.com The Comptroller and Auditor General on Friday tabled three reports -- on power, coal and airports -- in Parliament, almost indicting the UPA government for allegedly 'causing' a loss of more than Rs 1.86 lakh crore to the exchequer. The report has also lambasted the government for favouring private companies who benefitted from such 'largesse', giving the opposition parties a lot of fodder to them to hit out at the government...

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Coal: Govt slams Rs. 1.86 lakh cr loss report; BJP asks PM to quit

-The Hindustan Times Rapping the government for its failure to timely implement the competitive bidding mechanism for allocation of coal blocks, CAG on Friday said part of the Rs. 1.86 lakh crore loss could have been partially tapped had the procedure been put in place earlier. In its report, tabled in Parliament, CAG said 25 firms including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power were benefited to...

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CAG official splurged on air fare, says Goa RTI activist

-IANS A right to information (RTI) activist here Monday complained to the Comptroller Auditor General (CAG), accusing a senior official of the premier auditing and financial propriety of splurging government money. Aires Rodrigues, in his letter of complaint to CAG chief Vinod Rai, said that Additional Deputy Comptroller and Auditor General Shankar Narayan, who was in Goa for a legislative orientation programme in June, splurged government money on business class air travel...

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