'Coal Blocks Were Given Away Like Handkerchief', Says PM, Slamming UPA

April 12, 2015

Paris, Apr 12: In a scathing attack on previous UPA government, Prime Minister Narendra Modi has said that it had allocated coal blocks like one gives away a pen or a handkerchief, resulting in loss of lakhs of crores of rupees.

Coal Blocks"You must have heard about coal (block allocations)...204 coal blocks were given away just like that...Like someone comes to meet you and you give him your pen, or you give your handkerchief... Even if you give your pen to someone, you will think ten times whether you are giving it to the right person," he said, addressing the Indian community in Paris, during his visit to France as part of his tri-nation tour that includes Germany and Canada.

"Later, there was a storm and the Supreme Court cancelled all the allocations...Even the name of a (former) Prime Minister was mentioned. I do not want to go into that or criticise...," he said.

Mr Modi said soon after the NDA government came to power, the Supreme Court said no coal can be mined after March 31, 2015.

"We feared that if there is no coal, power plants will be shut down and people will face problems. So we acted fast and decided to auction the blocks," the Prime Minister said.

"20 coal blocks out of 204 have been auctioned so far and we got more than Rs. 2 lakh crore from them," Mr Modi said, while noting that CAG had estimated the loss of Rs. 1.76 lakh crore on account of allocation of 204 mines.

"Only 10 per cent of the work has been done. If any government does such a thing during the entire term, people will say you rule for 25 years," Mr Modi said.

He said that he decided that the revenue generated from the auction will not be kept in the central government's treasury but be given to states for development and healthcare.

The beneficiary states include Bihar, Jharkhand, West Bengal and Odisha, which have coal mines, he said.

"It is not Gujarat...Had Gujarat been one of such states, I would have been accused of doing all this only for Gujarat," he said.

Mr Modi asserted that on the basis of experience of 10 months as Prime Minister, he could say that "there is no reason why India should remain poor."

He said that all the international agencies like World Bank, IMF are saying India is the fastest growing economy.

"Even Moody's is also saying that India's growth prospect are right," Mr Modi said.

Rating agency Moody's last week raised India's credit outlook to 'positive', while Fitch projected faster growth - raising hopes for an upgrade in its sovereign rating in the next 12-18 months.

Mr Modi said the "hopes and expectations" with which BJP has been voted to power will be fulfilled.

Highlighting his 'Make in India' initiative, he said the country was aiming to reach new heights and his government was determined to ensure robust growth.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 28,2020

New Delhi, Feb 28: The months of March, April and May are "likely to be warmer than normal" over northwest, west, central and parts of south India, the India Meteorological Department said today in its summer forecast.

Above normal heat wave conditions are also likely in the core heat wave (HW) zone during the season (March-May), the weather department said.

The core heat wave zone covers the states of Punjab, Himachal Pradesh, Delhi, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh Gujarat, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, West Bengal, Odisha and Telangana and parts of Maharashtra and coastal Andhra Pradesh.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
January 12,2020

Lucknow, Jan 12: The controversy over renowned Pakistani poet Faiz Ahmad Faiz's iconic poem 'Hum dekhenge' may have caused an upheaval in the literary world but it has also helped in resurrecting the famous poet for the young generations.

Students and young professionals are making a beeline for books on Faiz, his biography and his poems and book sellers are ordering supplies of Faiz books.

"Earlier, we sold hardly one book in a month or on Faiz but after the controversy, people are curious to know more about the poet and his poems. We have placed orders for the entire literary range on Faiz Ahmad Faiz," said a leading book seller in Hazratganj in Lucknow.

The bookseller said that the highest demand was for books written in Devnagri script.

"Not many in the young generation can read or write Urdu so they prefer Devnagri," the book seller said.

In Kanpur, most of the leading bookshops have already run out of stocks and book stalls in the ongoing Handloom Expo are drawing huge crowds for Faiz books.

Suchita Srivastava, B.Ed student in Kanpur said, "I have never been fond of Urdu poetry because I do not understand much of the language but after the controversy, I want to read poems of Faiz to understand what he wanted to say. I am taking help of Google to understand difficult words in Urdu."

Krishna Rao, another student at the Chandra Shekhar Azad University of Agriculture and Technology, said that since books on Faiz had been sold out, he had ordered a Kindle edition and was reading them.

"Reading his poems actually widens one's perspective of things and becomes even more precious if you take into account the time and context in which they were written," he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
February 28,2020

Feb 28: National oil marketer Indian Oil Corporation (IOC) on Friday said it is ready to supply low emission BS-VI fuels from April 1 and that there will be a marginal increase in retail prices.

The largest oil supplier has spent over Rs 17,000 crore to upgrade its refineries to produce the low-sulfur diesel and petrol, the company's chairman Sanjiv Singh told reporters here.

Without disclosing the quantum of price increase, Singh said, “there will definitely be a marginal increase in retail prices of the fuels from April 1 when the whole country will be run on new fuels, which will have a sulphur content of only 10 parts per million (ppm) as against the present 50 ppm.

“But let me assure you, we will not be burdening the consumers with a steep hike,” Singh said.

He said, state-run oil marketing companies (OMCs) have invested Rs 35,000 crore to upgrade their refineries, of which Rs 17,000 crore have been spent by IOC alone.

Earlier this week, the sell-off bound BPCL said it had invested around Rs 7,000 crore for the same. ONGC-run HPCL has not so far disclosed its readiness for BS-VI supplies or its capex on the same.

HPCL had said from February 26-27 it was ready with BS-VI fuels and that it would sell only the new fuels from March 1.

IOC switched to BS-VI fuel production a fortnight ago and all its depots and containers are ready now, Singh said.

However, he said some remote locations, where the intake is very low, will take some more time to switch. But the company is planning to drain out the entire BS-IV stock and replenish the new fuels at such locations, he added.

Further, it has been reported that the companies will have to increase prices by 70-120 paise a litre, but Singh said, to arrive such a weighted average is not possible given the complexities of each refinery.

He, however, asserted that the price hike will not be a burden on consumers.

We are not looking at this investment from a pure return on investment basis, but this is a national mandate and we have done it.

Having said that, all those countries that moved to low emission fuels are charging higher prices; and from April 1, our prices will also be benchmarked against Euro VI prices as against the present practice of the cost-plus model, Singh concluded.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.