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how has coal scam affected indian economy

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  • how has coal scam affected indian economy

  • Indian coal allocation scam - Wikipedia

    Overview1992–2010. Background to Coalgate: history of coal allocation in IndiaMarch 2012. Draft CAG Report on CoalgateMarch–August 2012. Coalgate grows: the media, the BJP, and the CBI and Income Tax investigationAugust 2012. Coalgate reaches Parliament: the Final Report and Manmohan Singh's rebuttal in ParliamentSeptember 2012. Coalgate reaches Supreme Court of India20132014

    Coal allocation scam (or Coalgate ) is a major political scandal concerning the Indian government's allocation of the nation's coal deposits to public sector enterprise (PSEs) and private companies. In a draft report issued in March 2012, the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004–2009. Over the Summer of 2012, resulting in a Central Bureau of Investigationprob

  • Wikipedia Text under CC-BY-SA license
  • How have scams affected the Indian economy? - Quora

    Post-liberalization period, Indian economy has witnessed several scams like Harshat Mehta Scam in 1992, Fodder Scam 0f 1996, UTI Scam of 2001, Satyam Scandal and most recently the 2G scam. These scams have just not led to the loss of millions of rupees but have also affected the economy in a major way.

  • what is impact of coal scam on indian economy - Mining

    21/12/2012  impact that the mining of iron has on the economy of s.a impact of coal scam in indian economy. Below is some information about the products equipment, if you puzzle about the pricethe factorythe model and the photo of YEC »More detailed

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  • CBI registers another case in coal block allocation scam ...

    New Delhi: The Central Bureau of Investigation (CBI) has registered another case in the coal block allocation scam, which took place during 1993 and 2005. The case has been registered against JSW Ispat Steel Limited, then Nippon Denro Ispat Limited (NDIL), and some unknown public servants. According to FIR, the Ministry of Coal at the time had allocated the coal block

  • Coal India Q1 results: Profit plunges 55% YoY to Rs 2,077 ...

    02/09/2020  Coal India, the country's largest coal-producing company, on Wednesday reported 55.1 per cent year-on-year (YoY) decline in consolidated net profit at

  • This is why the Supreme Court should take some blame for ...

    The overall impact on the coal industry became visible with the Economic Survey 2016-17 highlighting that non-performing assets (NPAs) in the power sector, especially in thermal projects, had grown significantly. By June 2017, gross non-performing assets in the power sector were at Rs 37,941 crore.

  • Coal scam: SC ruling likely to hit economy, says India Inc ...

    Currently, about 42 blocks are producing coal to the tune of 53 million tonnes and account for 10 percent of the total coal supplied in the country.

  • Coal scam: Government to re-auction all 218 coal blocks ...

    New Delhi: In a historic decision on Monday, the union government has decided to cancel the licenses of all 218 coal blocks affected by the coalgate scam. Meanwhile the Attorney General of India- Mukul Rohtagi has informed the apex court that 40 coal blocks which are currently operational may be exempted if they fulfil condition of loss of Rs 295 per tonne and enter

  • India is moving away from coal towards renewables but ...

    27/06/2017  Despite this, it is not a far-fetched to say that the coal scam judgment did not bring justice to the various mining-affected communities in India’s coal-rich

  • Author: Aruna Chandrasekhar
  • Mining scams in India - Wikipedia

    The latest scam that has come out is the Coal Mining Scam in which Government has had a presumable conservative loss Rs1.86 trillion (short scale), due to the delayed implementation of competitive bidding process for allotment of coal blocks, says the CAG.

  • Coal scam: Government to re-auction all 218 coal blocks ...

    New Delhi: In a historic decision on Monday, the union government has decided to cancel the licenses of all 218 coal blocks affected by the coalgate scam. Meanwhile the Attorney General of India- Mukul Rohtagi has informed the apex court that 40 coal blocks which are currently operational may be exempted if they fulfil condition of loss of Rs 295 per tonne and enter power purchase agreements.

  • Coal scam: SC ruling likely to hit economy, says India Inc ...

    Currently, about 42 blocks are producing coal to the tune of 53 million tonnes and account for 10 percent of the total coal supplied in the country.

  • Coal India Q1 results: Profit plunges 55% YoY to Rs 2,077 ...

    02/09/2020  Coal India, the country's largest coal-producing company, on Wednesday reported 55.1 per cent year-on-year (YoY) decline in consolidated net profit at Rs 2,077.5 crore during the first quarter...

  • CBI registers another case in coal block allocation scam ...

    New Delhi: The Central Bureau of Investigation (CBI) has registered another case in the coal block allocation scam, which took place during 1993 and 2005. The case has been registered against JSW Ispat Steel Limited, then Nippon Denro Ispat Limited (NDIL), and some unknown public servants. According to FIR, the Ministry of Coal at the time had allocated the coal block to NDIL, which was not

  • Misplaced activism, millions jobless

    1 day ago  He scooped the coal scam in 2011 (much before the CAG made the scandal public) and the GMR-led Delhi airport scam the following year. He also

  • Coal scam verdict: Punishing the wrong guys

    04/12/2018  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

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

    Coal allocation scam. This scam is still under investigation but the amount involved in it is too high for it to be left out of the list. The scam happened during 2004–2009 and is reported to be a scam of ₹1,856 billion. Prime Minister Manmohan Singh had read a statement in Parliament rebutting this report. The base for the scam has formed since 1992 when a new list of 143 coal blocks was ...

  • Ex-PM's office under investigation in coal scam, says ...

    New Delhi: The office of a former prime minister has come under the ambit of the CBI's investigation regarding cases of coal block allocations, the government said. Without taking any names, Minister of State for Personnel Jitendra Singh said in a written reply in Lok Sabha that in 20 cases, the CBI has obtained files from the prime minister's office pertaining to approval of coal blocks by ...

  • India Economic slowdown: Supreme Court responsible for ...

    18/09/2019  Indian coal mines are lying closed, and we are importing coal. That is putting pressure on the economy." He said that the cancellation of Coal block allocation has costed the economy 1 percent plus of GDP. Read More News on

  • Mining scams in India - Wikipedia

    The latest scam that has come out is the Coal Mining Scam in which Government has had a presumable conservative loss Rs1.86 trillion (short scale), due to the delayed implementation of competitive bidding process for allotment of coal blocks, says the CAG.

  • India Economic slowdown: Supreme Court responsible for ...

    18/09/2019  Indian coal mines are lying closed, and we are importing coal. That is putting pressure on the economy." He said that the cancellation of Coal block allocation has costed the economy 1 percent plus of GDP. Read More News on

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

    Coal allocation scam. This scam is still under investigation but the amount involved in it is too high for it to be left out of the list. The scam happened during 2004–2009 and is reported to be a scam of ₹1,856 billion. Prime Minister Manmohan Singh had read a statement in Parliament rebutting this report. The base for the scam has formed since 1992 when a new list of 143 coal

  • Coal scam report to 'clear' India government News Al ...

    Coal scam report to 'clear' India government . Sources say CBI to let federal government off the hook in status report to top court over allocation of coal blocks. 13 Jan 2014 06:29 GMT. Prime ...

  • Impact Of Ponzi Schemes On Economy: A Study On West Bengal ...

    Impact of Ponzi Schemes on Economy: A Study on West Bengal. Prof. Pijus Kanti Bhuin. Abstract : 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 . the socio–economic environment

  • Coal is Gold: The ‘Coalgate’ Scam - Open access

    disbursement of funds for the purpose of development of the economy. India being rich in mineral ores, has a huge market for the same. But in the past few years, many unwanted scams and cheats have been seen in the economy. One such scam is the ‘Coalgate’ scam which involves crores of rupees. This paper intends to find out the view of general

  • Coal scam verdict: Punishing the wrong guys

    04/12/2018  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.

  • Ex-PM's office under investigation in coal scam, says ...

    New Delhi: The office of a former prime minister has come under the ambit of the CBI's investigation regarding cases of coal block allocations, the government said. Without taking any names, Minister of State for Personnel Jitendra Singh said in a written reply in Lok Sabha that in 20 cases, the CBI has obtained files from the prime minister's office pertaining to approval of coal

  • SC judgment on coal blocks: How it will take toll on ...

    24/09/2014  Coal scam was brought to light by BJP MP Hansraj Ahir. This move could also lead to the shortage of the electricity as the Supreme Court has granted six months time to the Centre to re-allocate the...

  • Indian court's coal block ruling may have wider economic ...

    26/08/2014  A mass cancellation of Indian coal blocks awarded since 1993 could cost the country up to $3 billion in additional imports and hurt financial firms that have lent to the sector, broking firms said ...

  • Supreme Court ruling on coal blocks likely to hit economy ...

    24/09/2014  NEW DELHI/MUMBAI: The Supreme Court 's mass cancellation of coal block licences will cause serious supply disruptions and accentuate the power crisis, and is likely to impact the economy by jeopardizing investments in the sector, India Inc said on Wednesday.

  • India court’s coal ruling fuels confusion Financial Times

    “Coal is king and paramount lord of industry,” wrote India’s Supreme Court this week. Few in the country’s fuel-starved industrial economy would disagree – hence the dismay that followed ...

  • Supreme Court ruling on coal blocks likely to hit economy ...

    24/09/2014  NEW DELHI/MUMBAI: The Supreme Court 's mass cancellation of coal block licences will cause serious supply disruptions and accentuate the power crisis, and is likely to impact the economy by jeopardizing investments in the sector, India Inc said on Wednesday.

  • How deep is the coal mining scam in Assam? - Moneycontrol

    Coal has been mined legally and illegally in the Dehing-Patkai forest region for some time now. The current controversy stems from the mining that Coal India Ltd has carried out since 2003 without ...

  • 9 scams that robbed Indian taxpayers' money - Photos-1

    9 scams that robbed Indian taxpayers' money Over the years there has been rampant corruption in India which has resulted in decay of the precious taxpayers' money. From fodder to coal gate, Satyam...

  • Corruption and crime: How coal mafias fuel India's power ...

    20/12/2014  Corruption, crime and waste in the economy exact a heavy toll on the economy. Recently built power stations stand idle across India, mainly for lack of coal. Last July, the world's most severe blackout shut off power in half of India, home to 1.2 billion people. Increasingly, power companies are turning to imports as domestic output lags demand.

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

    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 has blamed both the NDA and the UPA for ...

  • Author: NewsX
  • Coal scam: Dishonest misrepresentation before ex-PM ...

    21/05/2017  Coal scam Dishonest misrepresentation before ex-PM Manmohan Singh says Court . Advertisement . Stock Market. Most Read. India-China Highlights

  • Will coal block cancellation affect the country negatively?

    Supreme Court in a historical judgment cancelled the coal blocks allotted since 1993. There has been a hue and cry across the industrial sectors because as per this camp the decision will have far reaching impact on the Indian economy. Government had already conveyed its decision to court that it has no problems with the cancellation.

  • Coal scam: Some corrupt CBI ... - The Indian Express

    Independent sources have also confirmed that the anonymous letter has been written by at least one IO who has had “first-hand experience” of what he has alleged. Alleging “corrupt practices in coal cases being perpetrated in EO (Economic Offence) Zone,” the complaint says: “Huge amounts have exchanged hands in name of DCBI (Director, CBI) and a few selective officers are beneficiaries.

  • About Us Coal Scam

    Coal mining, the first step in the dirty lifecycle of coal, can have devastating effects on land, water and air, affecting health and livelihoods. Local people are often excluded from economic benefits. In many cases in India, corrupt and irresponsible mining companies operate without providing key information to communities. Central and state governments have failed to provide effective ways ...