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This Article is From May 29, 2016

Government Says Coal Auction To Get Rs 3.45 Lakh Crore

Auction of coal blocks being done will bring Rs 3.45 lakh crore to the country's kitty and Rs 36,500 crore would be saved on account of checking leakages through the direct benefit transfer (DBT) scheme for LPG subsidy, the government said on Sunday.

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Government Says Coal Auction To Get Rs 3.45 Lakh Crore
New Delhi: Auction of coal blocks being done will bring Rs 3.45 lakh crore to the country's kitty and Rs 36,500 crore would be saved on account of checking leakages through the direct benefit transfer (DBT) scheme for LPG subsidy, the government said on Sunday.

"Previous 2G auction enriched select few while current spectrum auction fetched Rs 1.09 lakh crore for the nation. Previous coal auction steeped in corruption. Now coal auction to bring Rs 3.45 lakh crore," according to the government, which is publicizing its work of two years.

The Comptroller and Auditor General (CAG) had, in a report tabled in Parliament in 2012, pegged the notional loss to the national exchequer at Rs 1.86 lakh crore on account of improper allocation of coal mines done by the UPA government.

Investigating agencies like Central Bureau of Investigation and Enforcement Directorate are looking into the alleged irregularities in coal mines and second generation spectrum allocation that claimed to have caused loss worth several crores to the government exchequer.

The government said over Rs 36,500 crore has been saved by eliminating bogus beneficiaries and leakages through DBT scheme.

The DBT programme, a major reform initiative to check leakages of welfare funds, was launched on January 1, 2013. It has since then been universalized to cover all central sector and centrally-sponsored schemes, where cash benefits are transferred to individual beneficiaries.

The government said significant progress is being made against black money and stringent action is being taken. It has unearthed tax evasion of Rs 50,000 crore of indirect taxes - comprising service tax, excise and customs duty and "yielded undisclosed income of Rs 21,000 crore".

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