Prime Minister Narendra Modi on Sunday said that CAG’s figure of Rs1.86 lakh crore loss in coal block allocations had raised some doubts initially, but the auction of less than 10 per cent of those mines alone has garnered Rs1.10 lakh crore.
Modi said that when CAG estimated the loss figure of Rs1.86 lakh crore “we also used to talk about that politically, but we also couldn’t believe”, but after the auction all the doubts have been cleared. “The disbelief was because people had not seen such humongous figures. People who had only seen a pond cannot imagine the size of a sea,” the Prime Minister added.
“Out of the total 204 (coal blocks, the allocations of which were cancelled by the Supreme Court), only 19 have been auctioned till now and we have garnered Rs1.10 lakh crore,” Modi said on the sidelines of a event orgnaised by Nasscom. Modi said that against the age-old practice of allocating coal blocks “after getting a letter” from a certain quarter, the NDA-Government devised a transparent e-auction process through which all the coal blocks are being allocated.
Coal block allocation during the UPA period led to loss of staggering Rs1.86 lakh crore as per the estimates of the official auditor CAG. The report had caused tremendous discomfort for the UPA Government and the Congress that headed the coalition.
Modi said that after the cancellation of the blocks by the Supreme Court, the present Government brought in Ordinance within three months. Through the use of modern technology, the Prime Minister said, transparency has been brought in the process of auction.
The NDA Government switched to auctioning the coal blocks after the Supreme Court cancelled allocation of 204 mines in September last year.
Modi also said the landmark scheme to give lPG consumers cash subsidy instead of selling to them below market priced cooking gas has stopped leakages, saving thousands of crores of rupees. For this he credited the use of technology which has helped transfer of cash subsidy to the actual users of the cooking fuel.
“My estimate is that at least 10 per cent of the leakages has been stopped, saving thousands of crore of rupees,” he said. From January 1, all lPG consumers in the country are entitled to get cash subsidy in their bank accounts which they can use to buy a cooking gas refill at market price.