In 2012, a controversy over allocation of coal blocks to private companies rocked the country. The governments finance watchdog?the Comptroller and Auditor General (CAG)?found the government had picked favourites and avoided open and competitive bidding which would have generated far more revenue for a cash-starved state. The CAG concluded that India had lost ` 1.86 lakh crore (over $ 30 billion) in the process, all of which went to the private companies. It was ...
