Coalgate: Flawed policy, not scam?
The government today encountered yet another storm after a leaked report of the Comptroller and Auditor General (CAG) found that a loss of 10.7 lakh crores was incurred due to the undervaluation of coal deposits and non-auctioning of coal blocks across the country between 2004 - 2009. It though got a breather after the CAG said that the draft was not final and hence, was misleading. But the issue has yet again thrown up the larger question of whether auctioning of natural resources is the only way to go and is the government short-selling these scarce resources.
