Discrepancies in the valuation of land allotted for the GIFT City project in Gandhinagar was pointed out by the CAG in a report in 2013. The land, which was valued at Rs 2700 crore, was allotted for Re 1 by the state cabinet. The state government also allowed the allottee to lease the land without seeking any permission from them.
Image Courtesy: India Today
GSIDC had haphazardly tendered the entire contract of construction of the Miramar-Dona Paula concrete road for Rs 72.59 crore to M V Rao. The work was expected to be completed in 18 months time starting from February 2014 but the contractor missed many deadlines and finally was opened for public in August 2016. In less than a year’s time, the road developed cracks as low-quality materials were used in the construction.
Image Courtesy: Herald Goa
The then Goa CM Manohar Parrikar initiated the process of construction of new Mandovi Bridge over the River and entrusted this to the already corrupt GSIDC. The government also paid Rs 10 crore as consultancy fees to the blacklisted S N Bhobe & Associates to the handle this project. Later, a corrosion of the steel used for the construction was reported.
Image Courtesy: Goa Prism
On June 26, 2005, then Gujarat Chief Minister Narendra Modi announced that GujaratState Petroleum Corporation Ltd. (GSPC) had discovered India’s largest gas reserves in the KG basin worth Rs 2,20,000 crores. He also said that an amount of Rs 1500 crores would be spent by the GSPC, and would start commercial production of this gas in 2007.
Two years later, on 4 November 2009, a ‘Field Development Plan’ was approved by the GSPC, which estimated Rs 8465 crores as the costs, much higher than what the CM said. The Plan also cut the estimate of gas reserves by 90% of what Narendra Modi had claimed.
GSPC borrowed Rs 19,716 crores until March 31, 2015 from more than 15 public sector and private sector banks and has not started commercial production yet.
Image Courtesy: Business Line