The true cost of 'Coalgate'

The real scandal in the allocation of coal blocks for captive mining without any competitive bidding is not the financial gain of Rs 186,000 crore to private parties, as reckoned by the Comptroller and Auditor General of India (CAG) for such mines awarded during 2004-09. This is only a presumptive estimate, based on the total extractable reserves of these blocks; it assumes this entire coal getting mined and sold at the prevailing market rates.

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