Skip to main content

Coal - 23 March 2012

India loses US$ 210 billion in potential coal revenue

The Government of India has been criticised for losing billions of dollars from the exchequer by selling coalfields too cheaply. A draft report of the Comptroller & Auditor General (CAG) has accused the Government of distributing 155 coalfields to private and state-owned miners rather than auctioning them off, undervaluing the coal resources by an estimated Rs 10.7 trillion (US$ 210 billion).