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effects of coal scam in indian economy

effect of coal scam on indian economy

effect of coal scam on indian economy Coal scam INSIGHTSIAS Oct 27, 2020 Coal sector in India: Despite having the world’s fourth largest coal reserves, India imported 235 million tonnes (mt) of coal last year, of which 135mt valued at Rs.171,000 crore could have b

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An overview of the Indian coal scam - Project Guru

The Coal Scam or the “Coalgate” scandal has marred India’s reputation as a thriving economy yet again and exposed the magnitude of irregularities in the management of key reservoir of natural resource- Coal in 2012. India is one of the biggest coal producers in the world with coal-rich states like Orissa, Chhattisgarh and Jharkhand. Coal can presently be sold only by state-owned Coal India

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An overview on Coal scam in India - steel-360

Coal scam is an issue which is in highlights in media these days. We hereby present for you a detailed description on what actually is coal scam all about.

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Coal scam - INSIGHTSIAS

27-10-2020  CAG had put the loss to exchequer at Rs 1.8 lakh crore and called it “the mother of all scams”. The CAG had argued that the government had the authority to auction the coal blocks but chose not to and as a result allocatees received a “windfall gain”.

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effects of coal scam in indian economy « BINQ Mining

Mining scam in India – Wikipedia, the free encyclopedia. The spill-over of the effects of legal mining into problems such as Naxalism and the Latest scam that has come out is the Coal Mining Scam in which .. "Fire in the Hole: How India's economic rise turned an

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What’s the coal scam about? - The Hindu

11-03-2015  The coal scam, or what’s popularly called the coalgate, first came to light when India’s audit watchdog, The Comptroller and Auditor General of India, raised the issue of inadequacies in the ...

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what is impact of coal scam on indian economy - BINQ

Dec 26, 2010 Recent Scams and its impact on Indian Politics and Economy India has seen in recent past many scams like 2G scams, mining scam, corruption in CWG, » More detailed Market Report, " Indian Coal Scam – Will it lead to Policy Changes

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Impact Of Ponzi Schemes On Economy: A Study On West

Following Commonwealth Games, 2G Spectrum, Coal Block allocation scams, India plunges into another Rs 1 lakh crore scam of money laundering in Eastern India – Ponzi Scam. The Bengal Ponzi business got a different dimension in

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What will be the effect of coal scam on the economy? (Part ...

01-03-2019  NewsX Debate is a NewsX special show which debates the main news event of the day. In a damning indictment, the parliamentary standing committee has blamed both the NDA and the UPA for the Coal gate scam. It says coal blocks distributed between 1993 and 2008 were unauthorized. And that the exchequer didn't get any revenue from them.

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What’s the coal scam about? - The Hindu

12-03-2015  The coal scam, or what’s popularly called the coalgate, first came to light when India’s audit watchdog, The Comptroller and Auditor General of India, raised the issue of inadequacies in the ...

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Coal scam verdict: Punishing the wrong guys

This was a consequence of the Comptroller and Auditor General report claiming a loss of Rs 1.86 lakh crore caused to the exchequer in the entire coal scam, and the subsequent Supreme Court verdict. But the consequences of that verdict have been devastating. Many questions remain unanswered.

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COAL ALLOCATION SCAM - 2012 - Indian, India Travel,

The Indian coal allocation scam is more like the great 2G scam. A senior Minister formulating or following a policy that resulted in three unfortunate and unwarranted implications: a massive loss to the exchequer; a windfall gain to private entities; and the plundering of a national resource.

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What will be the effect of coal scam on the economy?

01-03-2019  NewsX Debate is a NewsX special show which debates the main news event of the day. In a damning indictment, the parliamentary standing committee has blamed both the NDA and the UPA for the Coal gate scam. It says coal blocks distributed between 1993 and 2008 were unauthorized. And that the exchequer didn't get any revenue from them.

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coal scam: Latest News Videos, Photos about coal scam ...

15-03-2021  CBI interrogates TMC MP Abhishek Banerjee's relatives in coal scam case. 15 Mar, 2021, 05.05 PM IST. A CBI team had on February 23 visited the residence of Banerjee and examined his wife Rujira in connection with the case. The agency also examined

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7 things you wanted to know about 'Coalgate' Business ...

16-10-2013  In a nutshell, the coal allocation scam, or ‘Coalgate’ as it is popularly referred to in the media, is a political scandal that engulfed the UPA government in 2012. The scam came to light after the Comptroller and Auditor General of India (CAG) accused the government of India for allocating 194 coal blocks to public and private enterprises for captive use in a flawed, ad hoc manner between 2004 and

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Coal industry in present scenario in india (coal scam)

20-06-2013  Coal Blocks Allocation Scam The Comptroller and Auditor General (CAG) of India in its incisive audit reportnoted that India’s exchequer suffered a massive loss of 1.86 lakh crore due to thedistribution of coal blocks without bidding. The CAG report was tabled in the parliament on 17 August 2012. The CAG in its report stated that 57 coal blocks that were allocated to privatecompanies during

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Coal scam: JSPL connived with Coal ... - The Economic Times

08-01-2015  According to the CBI, the company continued "unauthorised" excess extraction of coal in the years 2003-04 and 2004-05 (ruled by NDA and UPA governments respectively) without the approval of Coal Ministry. The agency has alleged that excess coal mined during 2003-04 and 2004-05 was 1.431 MT over and above 4.55 MT excess coal mentioned above.

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What will be the effect of coal scam on the economy?

23-04-2013  Coal Scam: NewsX Debate is a NewsX special show which debates the main news event of the day. In a damning indictment, the parliamentary standing committee h...

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NBFC crisis and its domino effect on Indian economy

There is a decline in consumption which has led to a decline in the GDP growth. There is no recession because recession means two-quarters of negative growth. We don't have negative growth, we ...

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What’s the coal scam about? - The Hindu

12-03-2015  The coal scam, or what’s popularly called the coalgate, first came to light when India’s audit watchdog, The Comptroller and Auditor General of India, raised the issue of inadequacies in the ...

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Coal scam verdict: Punishing the wrong guys

This was a consequence of the Comptroller and Auditor General report claiming a loss of Rs 1.86 lakh crore caused to the exchequer in the entire coal scam, and the subsequent Supreme Court verdict. But the consequences of that verdict have been devastating. Many questions remain unanswered.

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7 things you wanted to know about 'Coalgate' Business ...

16-10-2013  In a nutshell, the coal allocation scam, or ‘Coalgate’ as it is popularly referred to in the media, is a political scandal that engulfed the UPA government in 2012. The scam came to light after the Comptroller and Auditor General of India (CAG) accused the government of India for allocating 194 coal blocks to public and private enterprises for captive use in a flawed, ad hoc manner between 2004 and

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Coalgate: The real scam in India's coal sector has gone ...

02-02-2013  If India needed more coal than what CIL could deliver, it would have been better to amend the Coal Mines (Nationalisation) Act, and allow private companies to extract coal and sell it in the market. Failing that, CIL could have been told to subcontract coal extraction to private companies. Such sub-contracting agreements exist in India.

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Coal scam: JSPL connived with Coal ... - The Economic Times

08-01-2015  According to the CBI, the company continued "unauthorised" excess extraction of coal in the years 2003-04 and 2004-05 (ruled by NDA and UPA governments respectively) without the approval of Coal Ministry. The agency has alleged that excess coal mined during 2003-04 and 2004-05 was 1.431 MT over and above 4.55 MT excess coal mentioned above.

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How Over-Invoicing of Imported Coal has Increased

Forty of India's biggest energy companies are being investigated by a wing of the Union Ministry of Finance for over-invoicing of imported coal. The artificially higher prices of coal have been passed on to electricity consumers across the country. The scam is conservatively estimated by government officials at no less than Rs 29,000 crore, a third of which is in the form of

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What will be the effect of coal scam on the economy?

23-04-2013  Coal Scam: NewsX Debate is a NewsX special show which debates the main news event of the day. In a damning indictment, the parliamentary standing committee h...

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Top 10 Corruption Scams in India - India Business Blog

18-08-2016  1 The Top Corruption Scams in India; 2 1. Indian Coal Allocation Scam – 2012 – 1,86,000 Crore; 3 2. 2G Spectrum Scam – 2008 – 1,76,000 Crore; 4 3. Wakf Board Land Scam

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List of biggest, Top 10 scams in India - The Indian Wire

It is a 945 crore scam which has been in the news for the past 21 years. The scam took place by embezzlement of government funds that were made by producing fake bills. It is named Fodder scam because of the fraud in procuring cattle feed. The case spans 64 cases over 56 accused.

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The Indian coal sector: Challenges and future outlook

Mining in India is a major economic activity which contributes significantly to the economy of India. The GDP contribution of the mining industry varies from 2.2% to 2.5% only but going by the GDP of the total industrial sector it contributes around 10% to 11%. Coal with a proven reserve of 860 billion tonnes is mined the most in the world.

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