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Rs 10.67 lakh crore loss due to coal policy: CAG

NEW DELHI:The Comptroller Auditor General is back to give the Centre nightmares. A CAG report says the government lost Rs 10.67 lakh crore by not auctioning coal blocks between 2004 and 2009.

Published: 22nd March 2012 11:10 AM  |   Last Updated: 16th May 2012 06:40 PM   |  A+A-

NEW DELHI:The Comptroller Auditor General is back to give the Centre nightmares. A CAG report says the government lost Rs 10.67 lakh crore by not auctioning coal blocks between 2004 and 2009.

According to a report in 'The Times of India', 155 coal blocks were given to commercial entities without auction between 2004 and 2009.

The estimated loss is six times higher than the presumptive loss figure of Rs 1.76 lakh crore for the 2G scam.

The 110-page draft report is expected to be tabled in Parliament after the Union Budget is passed.

Coal block beneficiaries include almost 100 private companies as well as some public sector units in industries such as power, steel and cement.

When asked about the latest revelation, Coal Minister Sriprakash Jaiswal refused to make any comment on the report.

"I can't comment on the basis on any media reports. If we receive the CAG report, we will analyse it and then take action. I have been the Coal Minister only in the UPA II and during this time no coal block has been given," Jaiswal said.

Congress leader Shakeel Ahmed said, "From the reports that I have read in the media, it is just loss to the government, not a scam."

The Bharatiya Janata Party (BJP) and the Samajwadi Party (SP) said they want suspension of the Question Hour over the CAG report.

Reacting to the report, BJP leader Prakash Javadekar termed it as the 'biggest scam'. "This is the biggest scams of sorts. More truth is likely to come out. I have given a notice to suspend the Question Hour," he said.



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