In reply to a comment by goks to my blog on CAG Repor “Please wait.
The Government will come with a story on excessive availability of Coal and hence there were no demand.
So they wanted to create demand!t on Coalgate I replied ‘
Now Congress is trying to come out with a statement
“The Supreme Court, while cancelling the 2G licences, did not make any observation with regard to the presumptive loss. If the apex court would have been convinced of averments of CAG, they would have endorsed the presumptive loss”, he said.
“CAG will be well served by keeping this precedent in mind and not keep adding zeros, which unnecessarily sensationalize and vitiates the environment”, he said.”
I saw in a TV report(was it TimesNow?) that the power price might have gone up if the tender process was followed!
In the spirit of helping Congress, I would like to reply on their behalf.
The CAG Report should have been approved by the Supreme Court before being tabled in the Parliament,
By not doing so , the CAG is undermining the Legislature and the People of India.
Coal until it is sold and Cash is realized is a worthless stone,
How come the CAG put a value on the Loss?
If the Coal Blocks were tendered and allocated as suggested by the CAG, Power prices would have gone up.
Being the critical factor in Economy,the increase in Power Price would have triggered Inflation further and would have led to further poor rating by International Credit Rating Agencies.
It was anticipated that the Monsoon would fail in 2012 and tendering would have taken a lot of time.
Being short of Water,Power Generation would have been affected in Thermal Stations.
The companies who received the allocation have the necessary Infrastructure which the Government lacks.
If one were to go by History and Anthropology, it is clear Coal was not made available by tendering Process.
The Prime Minister was aware of the developments and had instructed the Ministry of Power and Ministry of Establishments to ensure that there is transparency in Public Life.
The Law Ministry sent a Circular to all the Class IV Employees that the Coal Block allocation is to be conducted.