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| Last Updated:21/07/2016

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Latest News

CAG to submit report on e-auction of coal blocks

 

New Delhi | Jul 21, 2016: The much-touted e-auctions of coal blocks by the Modi government was reviewed by the Comptroller and Auditor General (CAG) and a report submitted late last month to be tabled in the ongoing session of Parliament. The government had claimed that e-auctions had fetched almost Rs 2 lakh crore on award of just 33 of these blocks which were allocated free by the UPA regime.

 

The auditor, which conducted audit on two rounds of e-auctions, is believed to have praised transparency in the e-auction process. However, it suggested certain procedural improvements while it is yet to carry out audits of the third round of e-auctions due to certain cases being sub-judice. The audit process had started early last year soon after the first two rounds had been completed.

 

This will be the first report by the federal auditor on the Modi government's allocation of natural resources, a performance review of its policies like the appraisal report prepared by the auditor for UPA's 2G spectrum allocation and Coalgate.

 

The auditor has looked into allegations of cartelisation in award of coal blocks through e-auctions. After allegations of cartelisation surfaced, the NDA government had cancelled coal blocks allocated to Naveen Jindal group on the grounds of alleged riggings.

 

A source said the auditor has reviewed all bidding documents and whether fair practices were adopted in allocations of mines through the new process.

 

At least 155 coal blocks were allocated during UPA regime between 2004 and 2009.

 

Private companies were alleged to have made windfall gains of more than Rs 1.86 lakh crore, according to a CAG report of 2012. The CBI had later investigated the case and the apex court cancelled those allocations on charges of irregularities.

 

The CAG has submitted at least 17 reports for tabling in the monsoon session. These reports include implementation of the government's Pahal direct benefit transfer (LPG) scheme, one on the public debt management, compliance report on the fiscal responsibility and the budget management act. There are two reports on the defence services.

 

 

(Source: http://timesofindia.indiatimes.com/)