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'Undue benefits' to companies cost Chhattisgarh 
1.85 Billion
Monday, 23 February 2009, 18:15 IST
Raipur: The Chhattisgarh government suffered a revenue loss of over 
1.85 billion (185 crore)) during 2007-08 because of "undue benefits" provided to various companies, a report by India's audit watchdog said.
The Comptroller and Auditor General (CAG) of India in its report on Chhattisgarh said: "The state government stood to lose revenue of 185.71 crore due to undue benefits to the allottees such as allotment of land at reduced rates."
The report has widely criticised Chhattisgarh State Industries Development Corp (CSIDC) for its its inadequate monitoring of the implementation of several state-sponsored projects.
"CSIDC took up establishment of four large industrial areas and five industrial parks between the period of 2003-08. None of the projects were completed as per schedule due to deficient planning," the report said.
"The company (CSIDC) caused a revenue loss of 22.09 crore (221 million) to the state due to supply of water at less rates, non-revision of usage charges and delay in execution of lease deeds," it added.
The report said six mega industrial units got concessions worth 26.3 million for investing more than 1 billion and providing employment to more than 800 people, but they did not fulfil the conditions.
CSIDC did not recover bank guarantee equivalent to concession amount from the mega industrial units, it added.
Source: IANS
1.85 billion (185 crore)) during 2007-08 because of "undue benefits" provided to various companies, a report by India's audit watchdog said.
The Comptroller and Auditor General (CAG) of India in its report on Chhattisgarh said: "The state government stood to lose revenue of 185.71 crore due to undue benefits to the allottees such as allotment of land at reduced rates."
The report has widely criticised Chhattisgarh State Industries Development Corp (CSIDC) for its its inadequate monitoring of the implementation of several state-sponsored projects.
"CSIDC took up establishment of four large industrial areas and five industrial parks between the period of 2003-08. None of the projects were completed as per schedule due to deficient planning," the report said.
"The company (CSIDC) caused a revenue loss of 22.09 crore (221 million) to the state due to supply of water at less rates, non-revision of usage charges and delay in execution of lease deeds," it added.
The report said six mega industrial units got concessions worth 26.3 million for investing more than 1 billion and providing employment to more than 800 people, but they did not fulfil the conditions.
CSIDC did not recover bank guarantee equivalent to concession amount from the mega industrial units, it added.
Source: IANS