Quantifying loss is not CAG`s duty: Veerappa Moily

Last Updated: Monday, September 3, 2012 - 22:47

New Delhi: Amid the political logjam over coal allocation controversy, Corporate Affairs Minister Veerappa Moily on Monday said that it is not the duty of the Comptroller and Auditor General (CAG) to estimate losses.

"I am not blaming them (auditors). Quantifying the loss is not their duty. Pointing out whether due diligence is taken, appropriate procedures have been processed and if there is any lapse on that part, that they definitely can (do). But they can`t make fantastic calculations," Moily said.

Speaking at a function organised by industry body PHD Chamber, the Minister said, "After all, you have to do in the present procedure and process which is well trusted in the last ten years".

The country`s top auditor, in a recent report, said undue benefits to the tune of Rs 1.86 lakh crore were extended to private firms on account of allocation of 57 mines to them without auction.

Parliament was deadlocked for the ninth day today on the issue of CAG report on coal block allocation as BJP persisted with its demand for resignation of Prime Minister Manmohan Singh.

Referring to the current controversy over the coal allocation, Moily, who is also in charge of Power Ministry, said such a situation would result in people not taking decisions.

"Prime Minister is targeted and tomorrow officers will not take decisions. This is where policy paralysis is, it is somewhere else, it is in our mindset," the Minister said.


First Published: Monday, September 3, 2012 - 22:47

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