{"id":5011,"date":"2012-08-22T11:08:26","date_gmt":"2012-08-22T11:08:26","guid":{"rendered":"http:\/\/www.generalknowledgetoday.com\/?p=5011"},"modified":"2012-08-22T11:08:26","modified_gmt":"2012-08-22T11:08:26","slug":"india-sets-another-record-in-corruption-govt-lost-rs-1-86-lakh-crore","status":"publish","type":"post","link":"https:\/\/generalknowledgetoday.com\/?p=5011","title":{"rendered":"India Sets another Record in Corruption-Govt lost Rs. 1.86 lakh crore"},"content":{"rendered":"<h2>Govt lost Rs. 1.86 lakh crore in allocation of coal blocks &#8211; CAG<\/h2>\n<div><img decoding=\"async\" title=\"Govt lost Rs. 1.86 lakh crore in allocation of coal blocks - CAG\" src=\"http:\/\/newsandviewsonline.com\/google\/news_images\/large\/12081345263335images.jpg\" alt=\"Govt lost Rs. 1.86 lakh crore in allocation of coal blocks - CAG, newsandviewsonline.com\" border=\"0\" \/><\/div>\n<p>Comptroller and Auditor General remarked that Government lost Rs1.86 lakh crore in allocation of coal blocks. Instead of competitive bidding coal blocks were allotted to private firms on nomination basis. Private firms were likely to gain Rs 1.86 lakh from this deal resulting in huge loss to the national exchequer. The CAG report was tabled in Parliament on 17th August.<br \/>\nThe CAG had named 25 companies including Essar Power, Hindalco, Tata Steel, Tata Power and Jindal Steel and Power which have got the blocks in various States. \u201cDelay in introduction of the process of competitive bidding has rendered the existing process beneficial to the private companies. Audit has estimated financial gains to the tune of Rs 1.86 lakh crore likely to accrue to private coal block allottees,\u201d CAG said in a report on allocation of coal blocks. 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 bidding was also vitiated by allowing Reliance Power to use excess coal from 3 blocks given to Sasan, added CAG.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Govt lost Rs. 1.86 lakh crore in allocation of coal blocks &#8211; CAG Comptroller and Auditor General remarked that Government lost Rs1.86 lakh crore in allocation of coal blocks. Instead &hellip; <a href=\"https:\/\/generalknowledgetoday.com\/?p=5011\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[4832,4833,4834],"class_list":["post-5011","post","type-post","status-publish","format-standard","hentry","category-current-affairs-club","tag-allocation-of-coal-blocks","tag-cag","tag-comptroller-and-auditor-general","entry"],"_links":{"self":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts\/5011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5011"}],"version-history":[{"count":0,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=\/wp\/v2\/posts\/5011\/revisions"}],"wp:attachment":[{"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/generalknowledgetoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}