Fully aware of the fact that the Coal Ministry has grabbed headlines in the recent past, Piyush Goyal, who on Tuesday assumed charge as Minister Coal and Power as well as New and Renewable Energy, emphasised that his endeavour will be to ensure transparency and honesty while dealing with issues.
"Processes will be set right as I am aware that it (Coal Ministry) has been a headline seeking ministry," Goyal said while interacting with the media soon after assuming charge of the Coal Ministry. He added all the three departments which have been entrusted to him, will be brought under one umbrella so that they work in tandem and costs can be cut.
However when asked whether the three departments, which have been functioning as independent ministries, will be physically merged into a single entity, Goyal said that though the vision of Narendra Modi as Prime Minister is 'Minimum Government and Maximum Governance', he would not be able to comment on the merger part as of now.
With the disconnect between the departments of power and coal stalling major projects, Modi's idea of bringing the two under one minister is likely to reverse the trend of declining investment in the sector and provide power for all.
The UPA Government had faced the heat for allotting coal blocks to private entities on nomination basis instead of auctioning them. The Comptroller and Auditor General (CAG) had alleged that the allotment of 57 mines to private companies had resulted in a notional loss of Rs 1.86 lakh crore to the exchequer.
Though the Government later reviewed and cancelled 29 block allocations during the previous two financial years, towards the end of its tenure, it had set the stage for auction of blocks through competitive bidding mainly for steel and cement end use.Whether the new NDA regime adopts a cautious approach on proceeding with these auctions is something which remains to be seen, Goyal indicated that before embarking on setting goals for the Coal Ministry, he would prefer understanding the issues first.