Friday, March 7, 2014

INDIA WOULD NEVER BE SHORT OF SCAMS ...

CAG HINTS AT A MASSIVE RAILWAY SCAM!!


Though, the audit is still in its initial stage and far from over, CAG hints at massive irregularities that have been going on for years under Indian railway’s dual policy for transportation of iron ores from various loading points of this country. It is a test audit yet and it might shock us all later when CAG concludes it with exact amount of losses incurred by the state exchequer. It is roughly calculated to be in thousand crores. 
The Indian exporters have been blatantly misusing the government policy that was introduced in May, 2008. For domestic purpose the transport charges are quite less than that for export purpose. 

The exporters would not have bamboozled the Government giving domestic rates without the connivance of Indian Railway authorities. It must be noticed that the investigation by CBI is also on for some of these cases. The CAG has discovered multiple ways by which the fraud is being carried on by exporters. The recoveries from the said fraud, could be well over 50,000 Crore. 

Only time will tell us as to how much money is involved in this new scam that is barely showing its face at the moment. The whole body is yet to be unearthed of this hovering scam.
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