STOP THIS SHAMELESS DEFENCE

CPI expresses grave concern over the revelations made by the Comptroller and Auditor General (CAG) on August 17, 2012 that some of India’s biggest companies — the Tatas, Essar, JSPL, Adani, Hindalco, Jypee, Balco, ArcelorMittal, have benefited hugely from the award of coal blocks without auction.The benefits could add up to a mind-boggling Rs 3.8 lakh crore.

The party fails to understand the undue and aggressive haste shown by Union minister for coal Sri Jai Prakash Jaiswal to rebut the national auditor’s findings and to rubbish its calculations. The blocks could have been auctioned eight years ago, and the delay has caused such a huge loss to the exchequer. Mr Jaiswal whose relative has been named by the CAG of receiving pecuniary benefits, has lost moral right to defend himself and the UPA-II government. The concept of coal block allocation through bidding was made public by June 28, 2004 but GoI is yet to finalise the modus operandi of competitive bidding even in February 2012. Why this undue delay in finalizing a decision which costed the nation so dearly and damaged the image of the Government beyond repair. Prime Minister need to give an explanation to the nation.

The government, the PMO and its ministerial bosses seem to have forgotten that CAG has a mandate under our own Constitution and to belittle it is violation of the Statute itself. The official stance that “allocation of coal blocks was never seen as a potential for generating revenue” is only to cover up the misdeeds done in the name of development with private participation. If the revenue of coal blocks, which is a nation’s resource, is not seen as a source of income to the nation the allocation without bidding to the corporates and allowing them the loot, is directly helping the development of crony capitalism.

The CPI demands a thorough probe into the whole affair of coal blocks’ allotments and find a way-out to collect the differential amounts from the corporates who had made windfall profits, with the wrong policies of the Government.