India's government, under fire for a series of multibillion-dollar
corruption scandals, plans to auction coal-mining licenses publicly for
the first time in an attempt to enhance transparency in the sector. The government also hopes the move will boost private investment in the
industry as India has become more dependent than it had been on imports
because of slow domestic production.
The decision came after
India's Comptroller and Auditor General, in a draft report leaked last
month, slammed the government for doling out cut-price coal blocks to
private and state-owned companies without rigorous, open bidding.
Source: Wall Street Journal
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