The Prime Minister Manmohan Singh today declared that he will quit public life if the charges on coal block allotments are proved correct. Rejecting Team Anna's allegations of corruption against him, Dr. Singh said that his long public career as Finance Minister, as Leader of Opposition in the Rajya Sabha and now as Prime Minister has been an open book.
He was talking to reporters on board his way back home from Myanmar. He warned that at the same time, the public should make up its mind whether this kind of politics will rule the roost in India.
This is Prime Minister's first reaction to Team Anna members Prashant and Shanti Bhushan's allegations last week accusing him of corruption for the first time when they referred to a draft CAG report on allocation blocks when he held charge of Coal ministry. He also termed as unfortunate and irresponsible the corruption allegations levelled against him and 14 of his ministerial colleagues by Team Anna.
The Prime Minister read out a brief statement to the media accompanying him on board his special aircraft before taking questions. Dr.Singh said Government has not yet received the CAG REPORT .
Showing posts with label coal. Show all posts
Showing posts with label coal. Show all posts
he Planning Commission today pitched for privatisation of coal mining saying government should have a consistent policy for energy sector as third party sale is allowed for petroleum and natural gas in the country. Speaking to reporters on the sidelines of a meeting in New Delhi, Planning Commission Deputy Chairman Montek Singh Ahluwalia said, the policy for energy sector should be consistent. He said private sector investment for third party sale is freely allowed in oil and natural gas. Mr Ahluwali advocated that it should be allowed for coal also.
Labels: coal, minning, Planning commission
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BI today registered cases against five companies and unknown government officials as part of its probe into alleged irregularities in allocation of coal blocks.
According to CBI spokesperson, the agency is also conducting searches at 30 places in ten cities including Delhi, Mumbai, Kolkata, Patna, Hyderabad, Dhanbad and Nagpur.
The filing of FIRs comes three months after registration of a preliminary inquiry into the coal scam by the agency on the directions of the Central Vigilance Commission.
During the preliminary inquiry, the CBI was informed by the Coal Ministry officials that it had issued show cause notices to some of the firms which were allocated the mines for explaining the delay in conducting the mining work. Some of the firms, which were allocated coal blocks in 2005, were yet to start mining.
The CBI had also examined the past areas of operation of some of the companies which were allotted coal blocks in Jharkhand, Chhattisgarh and Karnataka. It has been alleged that some of these firms had been set up only for getting coal blocks allocated and the same was later subletकिराये पर लिये हुए को किराये पर उठाना to other companies at a premium.
a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests
The agency has already questioned senior bureaucrats who were overseeing allocation of coal blocks during 2005 to 2009.
The questioning of the Coal Secretaries, who also chair the screening committee, was done to understand the issues involved in the allocation of coal blocks during the period and so far the agency has not found any irregularities on their part.
According to CBI spokesperson, the agency is also conducting searches at 30 places in ten cities including Delhi, Mumbai, Kolkata, Patna, Hyderabad, Dhanbad and Nagpur.
The filing of FIRs comes three months after registration of a preliminary inquiry into the coal scam by the agency on the directions of the Central Vigilance Commission.
During the preliminary inquiry, the CBI was informed by the Coal Ministry officials that it had issued show cause notices to some of the firms which were allocated the mines for explaining the delay in conducting the mining work. Some of the firms, which were allocated coal blocks in 2005, were yet to start mining.
The CBI had also examined the past areas of operation of some of the companies which were allotted coal blocks in Jharkhand, Chhattisgarh and Karnataka. It has been alleged that some of these firms had been set up only for getting coal blocks allocated and the same was later subletकिराये पर लिये हुए को किराये पर उठाना to other companies at a premium.
a prize, bonus, or award given as an inducement to purchase products, enter competitions initiated by business interests
The agency has already questioned senior bureaucrats who were overseeing allocation of coal blocks during 2005 to 2009.
The questioning of the Coal Secretaries, who also chair the screening committee, was done to understand the issues involved in the allocation of coal blocks during the period and so far the agency has not found any irregularities on their part.
he Inter-Ministerial Group (IMG), set up to look into the alleged irregularities committed in the coal blocks allocation, will submit its report within 15 days.
This was stated by the Coal Minister Mr Sriprakash Jaiswal at a press conference in New Delhi today. He said the government had already de-allocated 26 coal blocks and the inter ministerial group has issued notices to those companies which have not yet started coal mining.
The minister said the government will take stringent action against the defaulters.
Referring to the BJP's demand for cancellation of all the allocated coal blocks, Mr Jaiswal said the move will help the companies to take legal course.
The BJP has said the country-wide raids by the CBI have vindicated the party's stand that wrongdoing was done in the coal blocks allocation.
Talking to reporters in New Delhi, party spokesman Prakash Javdekar questioned whether the CBI can reach the doorsteps at the highest in the government .
Mr Javadekar said the statements made by the HRD Minister Mr Kapil Sibal and the Finance Minister Mr P Chidambaram on the losses to the exchequer are contradictory.
This was stated by the Coal Minister Mr Sriprakash Jaiswal at a press conference in New Delhi today. He said the government had already de-allocated 26 coal blocks and the inter ministerial group has issued notices to those companies which have not yet started coal mining.
The minister said the government will take stringent action against the defaulters.
Referring to the BJP's demand for cancellation of all the allocated coal blocks, Mr Jaiswal said the move will help the companies to take legal course.
The BJP has said the country-wide raids by the CBI have vindicated the party's stand that wrongdoing was done in the coal blocks allocation.
Talking to reporters in New Delhi, party spokesman Prakash Javdekar questioned whether the CBI can reach the doorsteps at the highest in the government .
Mr Javadekar said the statements made by the HRD Minister Mr Kapil Sibal and the Finance Minister Mr P Chidambaram on the losses to the exchequer are contradictory.
Labels: coal
The Congress today asked the Comptroller and Auditor General (CAG) to spell out the methodology it used in the calculation of losses suffered by the exchequer in the coal blocks allocation
The Odisha Government has admitted to have made 42 recommendations to the Centre for allocation of 45 coal blocks to private companies. The Center had allocated 17 coal blocks to 14 companies of the total recommendations. Making a statement in the Odisha Legislative Assembly while initiating a debate on an adjournment motion on the coal issue moved by the opposition Congress Party, Steel and Mines Minister of Odisha, Rajani Kant Singh, said his department had made 14 recommendations for coal block allocation in favour of 16 companies and one state public sector undertaking during 2001-02 to 2011-12. The Industries Department recommended names of two companies for coal blocks in 2007.
The statement of Odisha's Steel and Mines Minister is significant as Chief Minister Naveen Patnaik recently stated that the Odisha Government had been asking for an auction based system for allocation of coal and other minerals contrary to his minister's remark.
The adjournment motion will be taken up for full discussion today in the state ass
The statement of Odisha's Steel and Mines Minister is significant as Chief Minister Naveen Patnaik recently stated that the Odisha Government had been asking for an auction based system for allocation of coal and other minerals contrary to his minister's remark.
The adjournment motion will be taken up for full discussion today in the state ass
Labels: allocation, coal
AG said that being a Constitutional authority, the C&AG Vinod Rai feels that it would be improper on his part to join a public debate on the issue. The statement said that the auditing body would clarify on the report at the appropriate forum when required.
RBI today released its annual report for 2011-12 fiscal that ended on June 30. Attributing economic slowdown to a combination of domestic and global factors, the report says that the investment climate has worsened due to structural impediments, policy uncertainties, inflation persistence and rising interest rates.
To reverse the trend, RBI has asked the government to fast-track infrastructure projects and speed up regulatory clearances that will help to boost investments. RBI has said that investment climate in power sector has been affected by State Electricity Board losses and coal supply shortages. It advises the government to resolve all pending issues in respect of proposed new Fuel Supply agreements and resolve coal block auction without any further delay.
In the report RBI has said in order to step up public capital expenditures, the government needs to cut expenditure on subsidies. It adds that with limited fiscal and monetary space available to provide a direct stimulus, an expenditure-switching policy is needed.
RBI has said that financial inclusion is a substantially unfinished agenda and efforts need to be upscaled to reach out with a human face. RBI has also advised corporates to maintain integrity and be more competitive.
Defending its tight monetary policy stance, RBI said that although it has contributed to growth deceleration but was essential to maintain price stability and to lower inflation.
To reverse the trend, RBI has asked the government to fast-track infrastructure projects and speed up regulatory clearances that will help to boost investments. RBI has said that investment climate in power sector has been affected by State Electricity Board losses and coal supply shortages. It advises the government to resolve all pending issues in respect of proposed new Fuel Supply agreements and resolve coal block auction without any further delay.
In the report RBI has said in order to step up public capital expenditures, the government needs to cut expenditure on subsidies. It adds that with limited fiscal and monetary space available to provide a direct stimulus, an expenditure-switching policy is needed.
RBI has said that financial inclusion is a substantially unfinished agenda and efforts need to be upscaled to reach out with a human face. RBI has also advised corporates to maintain integrity and be more competitive.
Defending its tight monetary policy stance, RBI said that although it has contributed to growth deceleration but was essential to maintain price stability and to lower inflation.
as pre emptive loss can be explained and blaming the Prime Minister is nothing but .information that is spread for the purpose of promoting some cause
- designed or having the power to deter or prevent an anticipated situation or occurrence
Labels: coal
A report says, Chiefs of top mining companies
worldwide are bullish about demand from China and India, which is expected to boost global commodities market worldwide. Global consultancy PwC in its latest report on mining industry has also said that India would require huge increases in coal import to meet its growing power generation and for industrial needs.
It noted mining CEOs remain bullish about demand from emerging economies, led by China and India, which are anticipated to continue to drive demand for commodities. The report is based on an analysis of top 40 mining companies globally -- based on their respective market capitalisation. It includes future perspectives from CEOs of a number of the top 40 entities.
Growth in the country's eight core industries picked up to 6.8 per cent in February 2012, against 6.4 per cent growth in February last year, on account of healthy growth in coal, electricity and cement production.
The infrastructure industries had grown by just 0.5 per cent in January 2012. Electricity output grew 8 per cent, coal output surged 17.8 per cent, and cement output rose 10.8 per cent in February 2012, according to the provisional data released on Thursday.
Electricity production had grown by 7.2 per cent, and cement by 6.5 per cent, while coal output had contracted 5.8 per cent in February last year. Crude oil production grew 0.4 per cent in February 2012, against 12.2 per cent in February last year.
Petroleum refinery products output rose 6.2 per cent, against 3.2 per cent. But natural gas output contracted 7.6 per cent. Fertiliser production grew 4.1 per cent in February this year, against 4.8 per cent, and steel production increased 4.3 per cent, against 18.5 per cent.
Between April 2011 and February 2012, growth in the core industries slowed to 4.4 per cent, from 5.8 per cent in the same quarter last year.
The infrastructure industries had grown by just 0.5 per cent in January 2012. Electricity output grew 8 per cent, coal output surged 17.8 per cent, and cement output rose 10.8 per cent in February 2012, according to the provisional data released on Thursday.
Electricity production had grown by 7.2 per cent, and cement by 6.5 per cent, while coal output had contracted 5.8 per cent in February last year. Crude oil production grew 0.4 per cent in February 2012, against 12.2 per cent in February last year.
Petroleum refinery products output rose 6.2 per cent, against 3.2 per cent. But natural gas output contracted 7.6 per cent. Fertiliser production grew 4.1 per cent in February this year, against 4.8 per cent, and steel production increased 4.3 per cent, against 18.5 per cent.
Between April 2011 and February 2012, growth in the core industries slowed to 4.4 per cent, from 5.8 per cent in the same quarter last year.
Labels: cement, coal, econmics, electricity, Infrastructure, Petroleum refinery
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