'Loss' is now 'unintended benefit' in CAG's coal blocks report
A draft report of CAG has pointed out that the government lost Rs 10.76 lakh crore on account of allotment of coal blocks to 100 private and public sector companies during 2004-2009.
New Delhi: Official auditor CAG may not alter the Rs 10.76 lakh crore loss to exchequer it had projected in the draft report on allocation of coal blocks in 2004-2009 but is likely to replace the term "loss" with a more acceptable usage "unintended benefit".
"There is unlikely to be much change in the final report. We may only replace the term loss with the term like unintended benefit," a source close to CAG said.
Separately, Comptroller and Auditor General (CAG) of India Vinod Rai said at a conference of the Indian Public Auditors' Association here that the official auditor is "incapable of making any fundamental error in audit report.
"Our audit reports are scrutinised at 2-3 layers and all facts and figures are based on documentary evidences.
We have highly professionally trained auditors and even our work has been recognised at international levels....our audit practices are the best."
A draft report of CAG has pointed out that the government lost Rs 10.76 lakh crore on account of allotment of coal blocks to 100 private and public sector companies during 2004-2009, without auction.
In a latest move, the government has asked companies having captive coal mines to provide by month end the latest details of coal use, including reasons for delay in developing allocated reserves.
Having created a flutter in political space -- first with his audit reports and now with a tell-all book, former CAG Vinod Rai says he does not want to enter electoral politics but would remain in "public space".
Taking note of a CAG report on the KG basin gas blocks in which around Rs.19,576 crore were invested by the then Gujarat government led by Narendra Modi, the Congress on Tuesday sought a JPC probe into the matter.
The CAG has found that railways suffered loss to the tune of over Rs 314 crore due to under-utilisation of parcel cargo express trains