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“Inaccuracies” in “misleading” assessment of the report- Manmohan Singh

in International Business

“Inaccuracies” in “misleading” assessment of the report- Manmohan Singh

In response to the stalemate caused by the Opposition over the recent coal report, Prime Minister Manmohan Singh has said that the coal blocks were allocated in a transparent manner through checks and balances and without any favor to any company.

There were “inaccuracies” in the “misleading” assessment of loss of USD 33bn, said Mr. Singh.

One of the charges by the Comptroller and Auditor General of India (CAG) included delay in auction process, for which the Opposition blamed Mr. Singh.

Mr. Singh holds the five non-UPA states, Chhattisgarh, West Bengal, Rajasthan, Odisha and Jharkhand, for opposing the government’s move to bring legislation on auction process.

With regards to the loss highlighted in the report, the Prime Minister’s point is that the CAG has computed on the basis of allocation of 57 mines but of these, 31 coal blocks belong to the period prior to 2006.

He also says the amount of loss projected by CAG was “misleading” as calculations had been done on the basis of Coal India prices and private players have different cost parameters.

The Prime Minister will intervene in the debate in Parliament whenever it takes place, Bansal said, adding Manmohan Singh was ready for such an intervention yesterday itself if the discussion had taken place.

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