Thursday, 22 March 2012

CAG Estimates 33,169 Million Tones Coal Blocks = $5Trillion Loot

When more than 80% of Indians are extremely poor not even spending Rs.600 to Rs.1000 per capita per month – this is average figures. Since 1999 India has allowed over $50 Trillion worth of our Natural Resources – Oil & Gas, Coal, Mines and Minerals, Prime Land for Industrial and forestry etc free of cost.

The money that could have been invested in serving Poor, Farmers, Students, SMEs, Workers is Enriching few Corporate Families and filling Foreign Bank Vaults.

Since average price of Coal in international market is $150 per tone likely go up many fold the Corporate Loot far exceed $5Trillion.CAG has grossly under estimated loss to public at just $200b.
CAG also grossly under estimated loss in case Oil & Gas blocks also in case of Reliance.

Minimum loss due to Oil & Gas, Coal and mines and minerals could be $25 Trillion.

As per Supreme Court order – GOI is custodian of our natural resources.
It gross mischief of JINDAL to suggest few Corporates generates all the wealth and 1210m people in India do nothing.GOI is empowered by the Supreme Court judgment to AUCTION all our Natural resources. 
 Ravinder Singh

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