<p>After terming CAG's estimate of Rs 1.76 lakh crore loss in 2G spectrum allocation as a "myth", Finance Minister P Chidambaram today said the projected Rs 1.86 lakh crore loss in coal blocks allocation would also turn out to be a "mythical" and "fancy" number.<br /><br /></p>.<p>Fresh from the just-concluded auction of 2G mobile phone airwaves that tested if the government could actually get what the official auditor had projected as loss from allocating the spectrum on first-come-first-serve basis, Chidambaram said the loss estimated in coal block allocation was "another fancy number".<br /><br />"One (well respected) business house told me that they were allotted a coal block some seven-eight years ago. (But) he has not been able to enter that area yet for a variety of reasons. His officers (have) not entered the area yet. Now what's the point in saying that some loss is there. What is the loss?," he asked.<br /><br />"Yes, if there is any irregularity in allocating the block then that's a different matter. But where is the loss," he asked.<br /><br />CAG, which had in 2010 estimated that the exchequer lost Rs 1.76 lakh crore in revenue because the then Telecom Minister A Raja allocated spectrum along with mobile permits to 9 telecom companies without bidding, this year estimated a loss of Rs 1.86 lakh crore in allocation of coal blocks since 2004.<br /><br />"Ultimately that number which is being put out in the coal scam would also turn out to be mythical number," he told PTI in an interview.<br /><br />Chidambaram was, however, quick to say there was "no sense of vindication or celebration" in the government over last week's 2G spectrum auction failure.<br />"Nobody feels vindicated, nobody is celebrating anything. All that we have pointed out is that Rs 1.76 lakh crore was a pure myth and I think everybody has candidly admitted that they bought this myth, we never bought this myth," he said.</p>
<p>After terming CAG's estimate of Rs 1.76 lakh crore loss in 2G spectrum allocation as a "myth", Finance Minister P Chidambaram today said the projected Rs 1.86 lakh crore loss in coal blocks allocation would also turn out to be a "mythical" and "fancy" number.<br /><br /></p>.<p>Fresh from the just-concluded auction of 2G mobile phone airwaves that tested if the government could actually get what the official auditor had projected as loss from allocating the spectrum on first-come-first-serve basis, Chidambaram said the loss estimated in coal block allocation was "another fancy number".<br /><br />"One (well respected) business house told me that they were allotted a coal block some seven-eight years ago. (But) he has not been able to enter that area yet for a variety of reasons. His officers (have) not entered the area yet. Now what's the point in saying that some loss is there. What is the loss?," he asked.<br /><br />"Yes, if there is any irregularity in allocating the block then that's a different matter. But where is the loss," he asked.<br /><br />CAG, which had in 2010 estimated that the exchequer lost Rs 1.76 lakh crore in revenue because the then Telecom Minister A Raja allocated spectrum along with mobile permits to 9 telecom companies without bidding, this year estimated a loss of Rs 1.86 lakh crore in allocation of coal blocks since 2004.<br /><br />"Ultimately that number which is being put out in the coal scam would also turn out to be mythical number," he told PTI in an interview.<br /><br />Chidambaram was, however, quick to say there was "no sense of vindication or celebration" in the government over last week's 2G spectrum auction failure.<br />"Nobody feels vindicated, nobody is celebrating anything. All that we have pointed out is that Rs 1.76 lakh crore was a pure myth and I think everybody has candidly admitted that they bought this myth, we never bought this myth," he said.</p>