10.67 lakh cr loss for Govt, bigger than 2G

The Comptroller and Auditor General (CAG) report revealed some shocking facts about the loss incurred to the government. The government suffered a loss of Rs 10.67 lakh crore by not auctioning coal blocks during the period 2004 and 2009. About 155 coal blocks were given to commercial entities without auction. The beneficiaries include nearly 100 private firms and few public sector industries such as power, cement and steel.

CAG's 110-page report is likely to be tabled in Parliament soon, most probably after the Union Budget is passed. The estimated loss is over six times bigger than the 2G scam (Rs 1.76 lakh crore).

However, Coal Minister Sriprakash Jaiswal refused to make any comment on the CAG report. Jaiswal said that he became Coal Minister only in the UPA Government II and no coal blocks were given during his tenure. Though the Congress leaders were claiming that it's just a loss to the government but not a scam, a thorough probe into it will divulge the facts.