Farm Loan Waiver Dismantle CAG

The CAG has pointed out irregularities in the waiver of loans to Agricultural sector.

He points out that the Bureaucrats have siphoned off the money.

Irregularities in Waiving of Agricultural Loans.

1.Those eligble were loan waiver were not considered.

2.Those ineligible were granted loans.

3.Banks have diverted Funds received for the Waiver of the loans to Micro Finance Institutions.

5.Disbursement Accounts were tampered with.

6.The Institutions made false claims for reimbursement from the Government.

7.Monitoring was not effective.

These points were proved with documents.

The the Prime minister  ManMohan Singh declares that an enquiry is being ordered and if some one is found to be guilty, he will be punished.

He is an honorable Man.

If the Reports of the CAG are not reliable, dismantle it.

Agricultural Loan Waiver Scam.

The CAG Report .

Link in pdf.

http://saiindia.gov.in/english/home/Our_Products/Audit_Report/Government_Wise/union_audit/recent_reports/union_performance/2013/Civil/Report_3/Exe_Summ.pdf

“

The report by the Comptroller and Auditor General of India, which was tabled in Parliament Tuesday, raised serious concerns over the scheme after it found lapses and errors in 22% of the 90,576 accounts it audited.

The audit body also alleged that in 2,824 cases there was evidence of tampering and alteration of records, while in 4,826 cases farmers weren’t given due benefits.

A majority of India‘s farmers own small holdings and take bank loans to buy fertilizers and machinery during the planting season. However, as more than 60% of the lands is rain-fed, erratic monsoons often lead to crop failure, forcing farmers to default on loans.

The government launched an agricultural debt waiver and debt relief scheme in 2008 to address farmers’ difficulties in repaying loans on time. It then estimated that about 40 million farmers would benefit from the scheme. In the last four financial years, the government has waived more than 520 billion rupees ($9.5 billion).

Many economists and agricultural analysts had criticized the scheme, saying it was merely a populist move by the United Progressive Alliance government to attract voters ahead of the 2009 general elections.”

http://online.wsj.com/article/BT-CO-20130305-703283.html

 

Related articles

• BJP demands CBI probe in farmers loan waiver ‘scam’ (news.in.msn.com)

‘You Don’t Question Sonia Gandhi’

It seems that Salman Kurshid has taken over  from Digvijay Singh to shoot off the remark.

In a scathing attack on the Opposition on 2 G, Coalgate scams, he used this opportunity to mount an attack on  the CAG.

“Khurshid, writing in the latest issue of the party mouthpiece Congress Sandesh, accused the CAG of computing losses in a “callous manner” and noted that the Rs 1.86 lakh crore figure of undue benefits to private players in coal block allocation arrived by the audit body will stick in public mind.

Coming down heavily on the CAG, Tewari in his article “Why The CAG Is Wrong” said “the CAG does not have the constitutional or legal mandate to make its own policy prescriptions and then utilise them to compute notional or even mythical loss or gain”.

“Even when it chooses to do so, it ends up getting it grievously wrong. Headline hunting is a volatile vocation –perhaps it is time to end this parody”.

In the editorial, too, the journal says that the CAG has not taken the trouble to highlight that these are notional figures of possible profits that the government could have made if an alternate process had been followed.

“Actually the CAG’s report on coal block allocation is hypothetical. Nowhere has the CAG quantified the actual loss or even presumptive loss,” it said.”

Yes,CAG is Wrong,whatever is says is Notional.

But what is certain is that the Congress has endless   Departments to make money.

.

Congress has also questioned the Election Commission,CVC and The Supreme Court in the past.

Election Commission does not have the legal authority to enforce Election Laws.

CVC can not investigate Corruption cases.

Supreme Court can not intrude on the powers of the Judiciary.

The only one whose Constitutional Authority can not be questioned is Sonia Gandhi‘s!

http://post.jagran.com/congress-attacks-cag-raises-question-on-its-functioning-1348893223

Related articles

• Sonia asks Cong MPs to haul BJP over the coals (ibnlive.in.com)

Government Defense – Coalgate Scam,Additional Arguments.

Chidambaram,ManMohan Singh,kKpil Sibal

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 had “not endorsed” the presumptive loss of Rs 1.76 lakh crore pointed out by CAG in 2G spectrum allocation issue.

“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.

http://zeenews.india.com/business/news/economy/congress-defends-decision-on-coalgate-slams-cag_58379.html

Related articles

• India may have lost billions of dollars in coal sales: auditor (dawn.com)

CAG Full Audit Report On Coalgate,IGIA,Ultra Mega Projects

Update on 13 May 2013.

UPA Performance

The CAG report which was available at the time of posting this blog went missing after a couple of days in the Link provided here .

I posted a blog on this.

Then after a week, the report was available.

Now it has gone missing today( 7.30 am.13 May 2013)

The Supreme court has passed strictures on the CBI for showing the report to the Law Ministry and PMO and for having it altered .

The Supreme Courts Observations,

“

1. The affidavit, submitted by CBI director Ranjit Sinha, says that the Prime Minister’s Office and Coal Joint Secretary removed part of paragraph on non-existence of specific weightage or points in the system of allocation.
2. The Law Minister deleted finding on non-preparation of broadsheets or charts by the screening committee. The Law Minister also deleted a sentence on finding on scope of inquiry on legality of allocation.
3. But the CBI has emphasised that a draft status report was shared with the political executive and the Attorney General, not the status report it submitted to the court in sealed cover a few days later.
4. The affidavit claims that no names of suspect or accused were removed from the status report and that no suspect or accused were let off in the process.
5. It also says that consequent changes in the report have neither altered its central theme nor shifted the focus of inquiries in any manner.
6. It is, however, difficult at this stage to attribute each change to a particular person with certainty, according to the affidavit.
7. The CBI affidavit also names officials of PMO and Coal ministry, who had perused the draft report and on whose suggestions changes were made in it. Mr Sinha said Shatrughan Singh and A K Bhalla, the joint secretaries in PMO and ministry of coal respectively were “in regular interaction” with his officers with regard to ongoing inquiry in the coal scam.
8. The CBI chief also extended an unconditional apology to the court for any inadvertent omission or commission and assured it of an independent probe in the coal scam.
9. The Supreme Court had, after a stinging critique of the CBI last week, asked the agency for crucial details of a meeting at Mr Kumar’s office a few days before the report was submitted, where the minister allegedly vetted it.
10. Sources say Law Minister Ashwani Kumar met Prime Minister Manmohan Singh to explain the latest developments. Mr Kumar told the PM that the government, which is reeling under the massive coal scandal, will emerge stronger after the Supreme Court’s next hearing on Wednesday, the sources added”

Source ndtv.

Earlier Post.

I blogged about an hour back that the CAG site was not available.

Now I found that it is working all right.

 

I blogged about an hour back that the CAG site was not available.

Now I found that it is working all right.

I am reproducing excerpts and Links to CAG Report on Coal Block allocations,

Performance Audit of Ultra Mega Power Projects under special purpose Vehicles (Ministry of Power)

 Performance Audit of Implementation of Public Private Partnership Indira Gandhi International Airport,Delhi (Ministry of Civil Aviation)

http://saiindia.gov.in/english/home/Our_Products/Audit_Report/Government_Wise/union_audit/recent_reports/union_performance/12_13/Commercial/Report_No_7/Report_No_7.html

 

Coalgate Scam, 3,00,000 Lakh Crores, CAG Site not Found

Essar House, Essar Group Headquarters, Mumbai, India (Photo credit: Wikipedia)

English: Wordmark of Tata Steel (Photo credit: Wikipedia)

I have blogged quite extensively on 2G Scam,Antrix-Devas,ISRO scams quoting  and extensively from the CAG site http://cag.gov.in/

Now,the site seems to be unavailable.

The page cannot be found

The page you are looking for might have been removed, had its name changed, or is temporarily unavailable.’

“

If some one can tell me why and inform me how to get to the site  I will be grateful.

The Coal allocation has followed the set pattern of ‘no competitive bidding, preference to one Company(Reliance),Diversion of Coal to a power project and undue benefit of Rs. 3.06 lakh crores to private parties.

The beneficiaries of coal block allocation included Essar Group, Jindal, Adani, ArcelorMittal and Tata Steel.

The Prime Minister, who held the coal portfolio for a considerable time during the period .

The Prime Minister is allowed an escape route in that  the ‘screening committee was’ was held responsible by the CAG.

‘blame fell on the Screening Committee consisting of officials for the allocation “which lacked transparency, objectivity and competition”.

Not following the Rules to float tenders was started by 2 G Scam(or was it earlier?)

In the earlier cases like 2G,ISRO, Antrix-Devas, the PM was not in the picture as the Minister in charge.Now there is improvement.he was the Minister of the Department.

Note that some of the Companies reported to have been benefited are the same as those enjoyed the benefits in the 2G-

Reliance, Essar Group, and Tata Steels.

Tata Steels is a part of the Tata Empire which was involved through another subsidiary of its Group in 2G.

Was the GOM informed of these decisions?

Where was the Finance Ministry?

Were there ‘paperless discussions’ in this as well?

Wherever there is corruption on a massive scale the DMK can not be far behind.

Was it on this?

Does Nira Radia have any information on this as she was lobbying for Tatas and Reliance?

Quotes.

CAG says DIAL to get undue benefit of Rs 3,415.25 cr from levy of development fee on passengers at Delhi Airport.

Undue benefits of Rs 3.06 lakh cr to private parties: CAG

Already under attack over various scams, government today faced a fusillade from the CAG which has estimated “undue benefits” of over Rs 3.06 lakh crore to private parties in coal blocks allotment without bidding, Delhi airport development and diversion of coal to a power project.

The CAG attack came when three of its reports on coal allocation, development of Delhi airport by GMR-led DIAL and ultra mega power project of Reliance Power Ltd were tabled in Parliament today.

The Comptroller and Auditor General (CAG), however, brought down the estimated loss in the allocation of 142 coal blocks since July 2004 from Rs 10.7 lakh crore in the draft report to over Rs 1.85 lakh crore being the benefit to private allottees.

The CAG has estimated a potential earning capacity of Rs 1,63,557 crore to DIAL when it was given Delhi airport land on a concessional lease.

http://www.indianexpress.com/news/cag-reports-point-to-rs-3-lakh-cr-scam/989518/0

The CAG said it has arrived at the estimates based on the average cost of production and average sale price of opencast mines of Coal India in the year 2010-11.

The CAG has not only recommended immediate coal block auction but also an FIPB like single window for clearances among other things.

Here is a look at the key conclusions that the report highlights and the subsequent recommendations given:

Conclusions:

> CIL could not match with the rate of increase in coal production envisaged by the Planning Commission as there were delays in execution of various capacity addition projects due to lack of coordinated and planned approach by various government agencies involved in statutory clearances and land acquisition.

> Till 1993, there were no specific criteria for allocation of coal blocks. The process of bringing in transparency and objectivity in the allocation process of coal blocks, which commenced from 28 June 2004, got delayed at various stages and the same is yet to materialise (February 2012) even after a lapse of seven years.

> The financial impact of the benefit to the private allottees has been estimated at Rs 1.85,591.34 crore as on 31 March 2011. The Government could have tapped a part of this financial benefit by expediting decision on competitive bidding for allocation of coal blocks.

> Out of 28 producing blocks as on 30 June 2011, in case of ten blocks, there was time overrun ranging from one to ten years from the normative production schedules.

http://economictimes.indiatimes.com/news/news-by-industry/indl-goods/svs/metals-mining/cag-report-on-coal-block-allocation-12-things-you-need-to-know/articleshow/15531384.cms