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The Public Accounts Committee will take up the CAG reports on coal allocation, the public-private partnership project in the Delhi International Airport, ultra mega power projects and the Atomic Energy Regulatory Authority Board for discussion.
Sources in the panel indicated that detailed examination of the reports would start by November. The panel, headed by veteran BJP MP Murli Manohar Joshi, is likely to seek evidence from various officials and companies on the CAG’s controversial reports.
The PAC has 59 items on its agenda, including the draft report on 2G spectrum scam. The draft report has been circulated to the recently reconstituted PAC. The Speaker had wanted the panel to adopt the report before tabling it.
SEZ policy rapped
The PAC has criticised the implementation of the Special Economic Zone (SEZ) policy of the Centre.
In a report, adopted by the panel here on Thursday, it said there was no institutional mechanism with the Government to find out whether SEZs were functioning according to the Centre’s policy.
The panel has recommended a mechanism for monitoring actual Net Foreign Exchange (NFE) achievement for prompt recovery of duty foregone/evaded and also to provide deterrent penal provision for wilful default.
It said there was no mandatory requirement of undertaking exports in the SEZ legislation.
“This has whittled down the primary objective of the Act,” the report said. It added that since the units located in SEZs enjoyed considerable tax benefits and were expected to fuel economic growth, the scheme should be revisited.
The panel said out of an overall export of Rs 7,149.23 crore made by 22 SEZ units, the actual export content was only Rs 1,999.27 crore (28 per cent) and the remaining Rs 5,149.96 crore (72 per cent) related to Domestic Tariff Area earnings.
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