Government should not cancel coal blocks: GodrejSeptember 5th, 2012 - 7:18 pm ICT by IANS
New Delhi, Sep 5 (IANS) The government should not cancel coal blocks under opposition pressure following the Comptroller and Auditor General’s (CAG) report as it would hurt business sentiment, Confederation of Indian Industry (CII) president Adi Godrej said Wednesday.
“The coal blocks, which were allocated as per due process, should not be cancelled as any such cancellation will adversely impact business sentiment,” Godrej said.
Godrej, who is also the chairman of Godrej Group, said the law should take its own course and no precipitate action should be taken.
The Bharatiya Janata Party and Left parties have been pressing for cancellation of all 142 coalfields allocated since 2004 during the Manmohan Singh-led United Progressive Alliance (UPA) government.
The CAG said in a report that the lack of transparency in the allocation of coal blocks to private players resulted in a presumptive loss of a whopping Rs.1.85 lakh crore ($37 billion) to the exchequer.
The private firms, which have been allocated coalfields, are also under scrutiny because most of them have not started production.
Godrej tried to defend the companies saying several factors like land acquisition and environment clearances might have led to the delays in production.
“There are several issues which lead to delays in the start of production in coal blocks. These are related to forest, environment clearances, land acquisition, law and order and lack of supporting infrastructure, especially in the case of blocks in remote areas,” Godrej said in a statement.
“These would need to be addressed through a time-bound, single-window mechanism,” he added.
- CII against wholesale cancellation of coal blocks - Sep 02, 2012
- CAG reports creating suspicion, distrust: Assocham - Aug 28, 2012
- Private sector should not be targeted for coalfield allocations: Jindal - Sep 06, 2012
- Coal block allocations made by best screening committee: Jaiswal - Aug 17, 2012
- India lost $37 bn by not auctioning coal mines: Auditor (Intro Roundup) - Aug 17, 2012
- Inter-ministerial group reviews coal block allocations - Sep 03, 2012
- Auction of coal mines could have fetched $37 bn more: Auditor (Roundup) - Aug 17, 2012
- Rs.1.85 lakh crore coal blocks loss is flawed, says minister - Aug 26, 2012
- Prime Minister's statement on coal block allocation - Aug 27, 2012
- We never claimed 'zero loss' in coal block allocation: Chidambaram - Aug 27, 2012
- PM attacks CAG, BJP won't give up (Intro Roundup) - Aug 27, 2012
- PM attacks CAG, BJP won't give up (Roundup) - Aug 27, 2012
- Sriprakash Jaiswal says efforts will be stepped up to locate coal - Sep 24, 2010
- Congress asks CAG to respond to public debate on coal report - Aug 30, 2012
- Greenpeace for halting any further coal blocks allocation - Sep 11, 2012
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