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With 1.86 lakh crore CoalGate exceeds 2G scam; like 2G government rejects CoalGate loss
India's highest auditing body, Comptroller and Auditor General (CAG), in a final report presented to the Parliament, has estimated that due to allotment of coal blocks to the private companies without any competitive bidding, the exchequer has likely suffered a loss to the tune of 1.86 lakh crore rupees.

IMPORTANTLY, THIS amount of loss is bigger than the loss of 1.76 lakh crore that the exchequer, according to the CAG, had suffered due to the sale of second generation (2G) spectrum to the private telecom operators without any auction.

Congress led UPA government is under fire from opposition BJP, which held Prime Minister directly responsible for the coal scam. However, addressing a press conference coal minister Shri Prakash Jaisawal rejected the CAG report.

The coal ministry does not agree with calculation of loss figure and the CAG report. No one could have made a better policy for coal block allocation. There cannot be a more transparent screening panel for coal allocation,” said Shri Prakash Jaisawal, Coal Minister.

In total 25 private companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power have been named in the report on coal block allocation by the CAG.

Government announced the concept of allotting coal blocks through competitive way back in the year 2004; however, the modus operandi is yet be finalized.

Anti-corruption crusader Anna Hazare's key aide Kiran Bedi said on micro-blogging site Twitter that if CBI was independent or there was a strong Lokpal then the PM would have been an accused in coal allocation scam.

Under Prevention of Corruption Act causing 'wrongful loss' is crime. If v had Independent CBI/Lokpal PM/CoalGate wld have been an accused!. said Kiran Bedi on Twitter.

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