CAG finds Rs.9,000 cr mining losses in Odisha

The Financial Express reports that the CAG’s Performance Audit of mining in Odisha has found 17 companies benefiting to the extent of Rs. 9,000 crores. Further, the Integrated Mines & Minerals Management System (i3MS), considered the best in India, is far from satisfactory. Out of 43,464 e-permits for 188.60 million tons of iron ore, only 19,053 (44%) permits for 88.39 (47%) million tons were available on the system. The i3MS system is estimated to cause a significant loss.

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