'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.

hidden March 27, 2012 21:02:23 IST
'Loss' is now 'unintended benefit' in CAG's coal blocks report

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.

Loss is now unintended benefit in CAGs coal blocks report

Agencies

"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.

PTI

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