Coal-gate scam: Govt’s ‘Zero loss’ theory, BJP rejects

Amid disruption by Opposition party over CAG report on the Coal-gate scam during 2004-09, on Friday a Group of Ministers (GoM) denied alleging CAG’s concept of presumptive loss of Rs. 1.86 lakh crore flowing to private firms and termed it a “totally flawed”.

As per govt’s zero loss theory, there was zero loss during the coal block allocation process because still no mining has undertaken.

Addressing a press conference along with Coal Minister Sriprakash Jaiswal and Law and Justice Minister Salman Khurshid, Finance Minister P Chidambarama head of the GoM said, “If coal is not mined, if it remains buried in mother earth, where is the loss? The loss can arise only once the coal is taken out of mother earth, mined and sold at unacceptable price or value. But if the coal is not mined, where is the loss,”

Over the issue of benefiting private companies and PM’s resignation by BJP, Chidambarama clarified that Opposition was unnecessarily re issued 2004-09 procedures of coal blocks allocation which was the one followed earlier by NDA and other governments. He described it wrong that 56 coal blocks out of the 57 has been taken place without auction.

Ensuring to make a clear stand in Parliament on Monday with CAG authorities on the coal issue, Chidambaram also stated that Parliament is continuously disruptive by BJP, demanding PM’s resignation which is a very disappointing fact.

Reacting over FM zero loss theory, BJP chief spokesperson Ravi Shankar Prasad compared his view as similar to telecom minister Kapil Sibal’s saying over 2G spectrum allocation’s Rs. 1.76 lakh crore.losses estimated by CAG.

“He (Chidambaram) has forgotten that it is a question of decision-making”, he told reporters.

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