Not just once or twice, atleast in 9 public meetings in the last two months Shri Narendra Modi has beaten is 56inch hollow chest for being able to collect more than 2 lakh crore rupees in revenue for the state though the coal auctions apart from that he has also made tall claims about his achievement in being able to conduct auctions for coal blocks. Its very clear from the stand of BJP CMs in Rajasthan and Madhya Pradesh before and after elections that auctions were not the preferred way to allocate coal blocks in BJPs think tank. MMS during UPA-2 regime tried to push through auctions for coal blocks but had faced heavy resistance from CMs of 4 states MP,Chhatisgarh, Odisha & WB. Two of these states were ruled by BJP, one by Naveen Patnaik ex partner in business of BJP & the fourth then was a ruled by the communists. There existed no political will in the nation to enforce auctioning of coal blocks which I believe has 2 sides some positive and some negative. The noise about the auctions may be emanating from the 56 inch hollow chest but in reality the auctions were enforced on the government by the Supreme Court. So if anyone is to be given credit for the auctions it should be our fair and strong Judiciary and not us the political class be it of any party. Some of us did not understand the business of coal and out of the few who understood that ones canvassing for auctions were the minority.
The claimed 2 lakh crore rupees that Modi sarkar just earned for us is all but paper money that will not reach the public and if it will by the time it reaches there are chances that rupee would have depreciated atleast by about 20%. Because the coal block are being leased out for a time period of 30years or the life of the coal mine whichever is lower. And more than 60% of the coal blocks that are being auctioned have not been developed yet, so until they are developed and starts producing irrespective of the auction value the lessee does not have to pay a single penny to the government. Its like I buy a calf from you by paying Rs 1000 but until the calf becomes a cow and starts producing milk, I do not pay you anything. But you have given a Rs 200 party celebrating earning Rs 1000 from selling the calf. For a similar crime the Rajas of Satyam are being held and may be behind bars for a very long time. Taking some specifics Modi sarkar has claimed that Odisha will earn Rs 6000 crore from the current auctions apart from the royalty rev share which the state was gaining irrespective of auctions or not. Now in the Rs 6000 crore there are about 17 licenses on allocation to coal fields which are yet to produce a single kilo of coal. And there is no timeline to when will these mines be developed by the lessee and coal will be produced. So any 7 year old kid can tell you that the numbers Modi sarkar is throwing do not add up. And I think there is understanding within the BJP cadres too that the numbers do not add up but since Jumlas are essential part of BJPs existence the cadres are just sucking it in giving their brains a good rest. I am no fortune teller but just by virtue of some understanding of financial numbers I can safely predict that 2 lakh crores from coal is going to be the new #jumla of BJP’s prime minister Shri Narendra Modi.