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Coal, spectrum auction helped curb corruption: PM Modi

Prime Minister Narendra Modi on Saturday said auctions of coal blocks, telecom spectrum and FM radio licences have curbed corruption in the country.

During his I-Day speech, the PM said nearly Rs3 lakh crore would come to the exchequer by way of coal block auctions.

Modi said when the Comptroller and Auditor General (CAG) had put the loss to the exchequer at more than Rs 1.74 lakh crore on account of captive coal blocks being given away without auction, he was taken aback.

“About Rs 3 lakh crore will come into the exchequer. Ask your inner conscience, has corruption gone or not? Did the doors close on corruption or not? We have done it,” he said.

In September last year, the Supreme Court had quashed all coal block allocations for captive use since 1993.

Following this, in February, the government began auctioning coalfields. The first two rounds, in which 29 blocks were put under the hammer, will earn state governments more than Rs 2 lakh crore over the next 30 years.

In March, the auction of telecom spectrum too had fetched the government more than Rs1 lakh crore.

“The auctions for FM radio are on. Big people are unhappy. There was a lot of pressure on me not to go ahead with it. I was told radio is for the common masses and there is no income. But we wanted transparency. And now, FM radio (licences) in 80-85 cities are being auctioned. It has already earned the government more than Rs 1,000 crore,” Modi said.

source: http://www.hindustantimes.com