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CII against wholesale cancellation of coal blocks
Sunday September 02, 2012 12:53:55 PM,
IANS
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New Delhi: The
Confederation of Indian Industry (CII) has cautioned the
government against mass cancellation of coal blocks allocation,
saying such a step would hurt business sentiment.
"The law should take its own course and no precipitate action
should be taken. The coal blocks which were allocated as per due
process should not be cancelled. Any such cancellation will
adversely impact business sentiment," CII president Adi Godrej
said in a statement.
The coal blocks allocation has disrupted parliament over
opposition demands for Prime Minister Manmohan Singh's resignation
after the official auditor reported a whopping $33.67 billion loss
to the government due to allocation of 57 coal blocks.
The opposition has also been calling for cancellation of the
allocation of these captive coal blocks.
Godrej said: "Any coal block allocation where it is established
that due process has not been followed, should be reviewed and,
appropriate action taken in accordance with law."
Of the 57 coal blocks in question, actual production has started
in only one. Godrej pointed out to the various issues which lead to
delays in the start of production.
These, he said, include issues related to forest, environment
clearances, land acquisition, law and order and lack of supporting
infrastructure, especially in remote areas.
"These would need to be addressed through a time-bound,
single-window mechanism."
CII said that almost 40 percent of the revenue from coal mining
goes to the government as taxes and royalties.
"This is one of the highest in the world. These benefits that
accrue to the government need also be recognised."
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