Indian NewsIndia lost $37 bn by not auctioning coal mines: Auditor :

ndia's exchequer could have been richer by Rs.1.85 lakh crore ($37 billion) if competitive bidding, rather than arbitrary allotment, was adopted to give coal blocks away, says the official auditor, faulting the government's policies yet again.

As the opposition Bharatiya Janata Party (BJP) demanded the immediate resignation of Prime Minister Manmohan Singh, the government rejected the finding. It termed as erroneous the back-of-the-envelop estimate of losses that nearly amounts to the country's budgeted income tax and customs mop up of Rs.1.95 lakh crore and Rs.1.86 lakh crore, respectively, for this fiscal.

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