India loses US $210 billion in coal sales in 'mother of all scams'

[somebozo]

This offsets the 12 billion AMCA mother of all aircraft deals!

 

[IndianArmy]

This offsets the 12 billion AMCA mother of all aircraft deals!

Do you have anything useful to contribute? besides where does AMCA come into the picture of 12 billion deal?

 

[lem34]

Both Pakistanis and Indians need to get together, grab all our political leaders and put them on a big bonfire and burn them. Our leaders are not only corrupt but incompetent to the core.

 

[harpoon]

Both Pakistanis and Indians need to get together, grab all our political leaders and put them on a big bonfire and burn them. Our leaders are not only corrupt but incompetent to the core.

Then who will replace them. You may like Generals, but we don't.

 

[lem34]

Then who will replace them. You may like Generals, but we don't.

I was going to comment on just Indian leaders however I thought some Indians may think that I was saying it cos I was being partisan so I included the reference to our leaders.

Come on mate cant we even agree on this. It makes me sick to think there are people, children in Pakistan and India are sleeping hungry and we have leaders that are throwing this amount of money away??

 

[Bharthi]

Anybody blaming BJP,BJD are trolling or stupid.

 

[indian_jigar]

Holy ****, 210 billion dollars is like 15% of our total economy!!!!!

 

[lem34]

Anybody blaming BJP,BJD are trolling or stupid.

My understanding of the article is that all major parties are complicit

 

[Agent Vinod]

'Anguished' CAG disowns own report in letter to PM:
The press release from the PMO...



With reference to the lead story published in the Times of India today titled "Government lost Rs 10.7 lakh cr by not auctioning coal blocks: CAG', the Prime Minister has received a letter from the Comptroller and Auditor General of India at 1:30 pm today.



Among other things, the letter clarifies that: "In the extant case the details being brought out were observations which are under discussion at a very preliminary stage and do not even constitute our pre-final draft and hence are exceedingly misleading.

Pursuant to clarification provided by the Ministry in exit conferences held on 9.02.2012 and 9.03.2012, we have changed our thinking. In fact it is not even our case that the unintended benefit to the allocatee is an equivalent loss to the exchequer.

The leak of the initial draft causes great embarrassment as the Audit Report is still under preparation. Such leakage causes very deep anguish."

 

[Punjabbi Munda]

The scam is in non congress ruled states like"

Chattisgarh = BJP (congress was never in power in that state)

Jharkhand = BJP

Orrisa = BJD

If it was BJP involved,do you think UPA and congress would be silent?And BJP would be banging up the central government?
Even an outside ally of Congress,Samajwadi Party has said that the central government should be probed.If it was BJP involved,why would BJP want a CBI probe?
Apply some sense...and Sonia Gandhi wouldn't be calling SP to gain some support.

 

[Hafizzz]

India loses US $210 billion in coal sales in 'mother of all scams'

India lost up to $210 billion in revenue by selling coal deposits too cheaply, according to a government auditor's draft report, renewing pressure on Prime Minister Manmohan Singh, who is already reeling from corruption scandals.

Opposition parties reacted with outrage in parliament on Thursday to the report, which was leaked to the Times of India.

The session was adjourned and the government said it would respond once it had verified the facts.

"We are examining the news report and I have called for records. After that I will reply," Coal Minister Sriprakash Jaiswal told reporters.

The leaked draft from the Comptroller and Auditor General's (CAG) office criticises the government for allocating 155 valuable coalfields to about 100 private and some state-run miners instead of auctioning them off to the highest bidder.

It said the policy undervalued the coal by at least Rs10.7 trillion, or $210 billion at today's exchange rate.

"This is the mother of all scams," said Venkaiah Naidu, a senior leader in the opposition Bharatiya Janata Party. "The prime minister should reply."

Prime Minister Singh, who himself oversaw the coal ministry during some of the period in question, declined to reply to questions by reporters at parliament.

A similar investigation over the allocation of telecom licences led to huge protests that rocked Singh's government last year and landed a minister and several company executives in jail.

In the telecoms scandal, officials are accused of taking bribes to favour certain companies.

Jaiswal said he was not serving as minister during the period under scrutiny and that the government policy was now to auction coal blocks. The coal minister was expected to reply in parliament later on Thursday after consulting with the prime minister's office. A CAG source said the report would probably be presented to parliament in the next few days.

India loses $210 billion in coal sales in 'mother of all scams' - India - DNA

Report on coal block loss 'exceedingly misleading'
Report on coal block loss 'exceedingly misleading': CAG - Hindustan Times

 

[harpoon]

I was going to comment on just Indian leaders however I thought some Indians may think that I was saying it cos I was being partisan so I included the reference to our leaders.

Come on mate cant we even agree on this. It makes me sick to think there are people, children in Pakistan and India are sleeping hungry and we have leaders that are throwing this amount of money away??

The solution is not burning people on a stake, but to elect responsible leaders. I may not like corrupt politicians, but I believe in democracy where the power of change rests in our hands. The benevolent dictator is a myth.

Anyways I am waiting to find out whether the cheap coal translated to cheap steel, cement or power. If yes, I don't mind....as these things touch the life of every person the earth.

 

[Hello_10]

So its official now, we beat our neighbors in corruption too.

Indian civilians do a major mistake when they support corrupt leaders of Congress because they liberalized Indian market in 1991. Not only India but also China, ASEAN, South American etc countries opened their markets at least 10-12 years before than India, so late in India , while it’s the Indian professionals who are the main force behind the top technologies US’s firms use. But on the back of a ‘late’ liberalization of Indian market similar to rest of the world, now congress government is involved in so big corruptions which can’t be compared with any other part of the world. Even BJP government in between 1998 to 2004 tried enough foreign investments/ privatization, but there was no minister of Vajpayee government who was ever sent to jail for corruption cases.

The Vajpayee government expanded the process of economic liberalisation initiated by the P.V. Narasimha Rao government (1991–1996). His government initiated the privatisation of most state corporations, including the Videsh Sanchar Nigam Ltd. His government also began the establishment of special export processing zones, Information Technology and Industrial Parks across the country to bolster industrial production and exports. In its third term (1999–2004), his government launched the National Highway Development Project, with the first phase being the Golden Quadrilateral. In 2003, the government launched the Pravasi Bharatiya Samman (Honouring of Non-Resident Indians) and initiated plans to establish an Overseas citizenship of India to enable NRIs to invest and do business freely in India. His government also expanded efforts to encourage foreign investment, especially from Europe and the United States.

Premiership of Atal Bihari Vajpayee - Wikipedia, the free encyclopedia

while almost everyone of Congress party is corrupt and Ms Sonia Gandhi, who is supposed to have good links in US/ UK, is said to have billions of dollars in foreign accounts. It will not be surprised if Mr Manmohan Singh will also be known as a Super Rich like Sonia Gandhi after 4-5 years, after disclosure of his foreign accounts like Sonia Gandhi. these traitors are selling Indian wealth to foreigners in front of common Indian public but they can do nothing. It’s the foreign companies who tried to capture Indian market since 1991 and it’s the high class Indian professionals/ businessmen who are behind growth of India and developed high techs for many US’s/ Western companies but just because of liberalizing Indian market in 1991, all these traitors have got license to sell Indian economic and strategic interests to foreigners. A day is not far away when common public will start punishing these traitors one by one on road……………

 

[JAT BALWAN]

great fcuking great.... our leaders are getting smarter & smarter...

I am just watching @ my LMG & wanna look one of these stooge through it`s barrel ...

 

[Dr. NooB NinjA]

my theory is, BJP and Congress actually are in bed with each other and are laughing their ***** off about how much money they can steal.

Yep... This is absolutely true...
A friend of mine is the son of a recently sworn in minister in Akhilesh Yadav govt in Uttar Pradesh.. And he admitted openly that approximately 50 crore rupees changed hands so that his dad gets the ministry; and now his dad is going to make atleast 300 crores using his position in the next two years...

Cant take the name cuz of obvious reasons..!! I might actually get killed if I tell..!!