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A CAG audit reveals that Modi's Government has done in Gujarat what Manmohan Singh's did at the.
Centre: extend undue benefits to corporations at huge costs to the public exchequer (see box) and loss.
of livelihoods..
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BOX.
Corporate Plunder in Gujarat.
The CAG report on Gujarat reveals scams to the tune of Rs 16,707 cr..
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· The CAG has observed that the Gujarat State Petroleum Corporation, supposed to be Modi's.
special pride and joy, has suffered huge financial losses due to cost overrun at KG basin block.
where production has not commenced even after spending over Rs 7,000 crore (Rs 70 billion)..
The CAG has observed that GSPC, with its consortium, submitted a bid for acquiring the KG block.
"without properly assessing related technical and financial issues." As a result, it said, against.
the estimated drilling cost of $102.23 million and the total depth committed of 45,348 metres in.
the minimum work programme, the actual drilling cost incurred was $1302.88 million (Rs.
5,920.27 crore) and the total depth drilled was of 77,395.07 metres. The CAG notes that in 2005,.
Modi had announced that GSPC's KG basin block contained gas reserves over 20 TCF and.
production would begin within two years; but now the DGH (director general, hydro carbons).
has certified that the KG basin block does not have more than 2 TCF gas reserves..
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· Besides irregularities and cost overrun at KG basin project, the auditor has also noted that GSPC.
has suffered financial losses in gas trading activities on account of undue favours extended to.
Modi's most favoured industrial house, the Adani group. The CAG report notes, "During 2006-.
09, GSPC sold gas to Adani group at a price which was much lower than its purchase price. This.
incurred loss of Rs 70.5 crore (Rs 705 million).".
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· The Adani group has consistently been doled out over 5. 84 crore sq m of precious coastal land.
at a paltry rate ranging from Re 1 to Rs 32 at Mundra in Kutch..
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· CAG found GSPC subsidiary, Gujarat State Petronet Limited, to have passed on undue benefit of.
Rs12.02 crore to Essar Steel by way of waiver of capacity charges contrary to provisions of gas.
transmission agreement..
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· The audit report for the year ending March 2011 also slammed other public sector units such as.
Dahej SEZ Limited, Gujarat State Electricity Corporation Limited, Gujarat Urja Vikas Nigam.
Limited, and Sardar Sarovar Narmada Nigam Limited, among others, owned by the Gujarat.
government for financial irregularities to the tune of over Rs 4,000 crore (Rs 40 billion)..
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· CAG's audit points out how K Raheja Corporation Pvt Ltd was allotted grazing land for the.
construction of an IT park in Gandhinagar district and was allotted 3,67,581 sq m of land at the.
rate of Rs 470 per sq m, which resulted in short recovery of Rs 9.96 crore. CAG has argued that it.
should been levied Rs 705 per sq m in this case..
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· In Vadodara, untreated sewage, domestic waste water and slaughterhouse waste were.
discharged in Gorva lake, overflow of which resulted in further polluting Gotri lake. In Surat,.
industrial units of Hazira released treated water in the estuary of Tapi..
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