NEWS: The CAG(Comptroller and Auditor General) recently released a report of the COALGATE scam. In this whole master blunder, the national exchequer faced an estimated loss of Rs. 1.86 lakh crore. The 155 coal blocks obtained by captive mining were distributed illegally to 100 private companies. BACKGROUND: During the period of 2004-2009, the coal ministry was to allocate coal blocks to the companies and as per the legal process, this had to be done through an auction. However, the top notches of the ministry which also includes the current Prime Minister , Dr. Manmohan Singh, who was the minister-in-charge from 2005-09 , had manipulated the legal processes. It is believed that even though the date for auction was decided but before that some firms were granted coal blocks through a screening committee. This delay in the introduction of competitive bidding is the reason why the CAG is pointing fingers. As the report elucidates, these choiced companies were given post-bid concessio...
With an inner desire to inspire, I believe in an individual's power to change the world. I envision a Matilda (i.e. battle maiden) in each one of us.