India to lose $29Billion in Delhi Airport Land Lease scam

May 26, 2012 12:59
India to lose $29Billion in Delhi Airport Land Lease scam

A quote by Fran Lebowitz, a humorist on the crumble of Soviet Union, “In the Soviet Union, capitalism triumphed over communism. In this country, capitalism triumphed over democracy.” Seems to have been spelt right, even though uttered in a lighter vein. The scam after scam in the nation of billions reminds of the last days of the former Soviet Union. In a recent issue unearthed by the Comptroller and Auditor-General (CAG), India has lost approximately $29 billion. The Delhi airport lease deal was the topic of controversy. CAG has reported that the Delhi International Airport Limited (DIAL) which had been leased the land at an annual gross rate of Rs 100 for 60 years,  in addition to a one-time payment of $ 324 million, could have earned the country nearly Rs 1.636 trillion. DIAL runs Delhi’s main airport terminal, is owned by the GMR group.

The 2G scam and not much known mining scam had. If not depleted atleast not earned the billions that were destined to be. Mounting debts of the nation and the weakening of the rupee, just goes on to prove that the corrective measures delayed by the rulers could be attributed to their incompetence in eradicating corruption feel critics.

This present scam could be trouble brewing for the Congress led UPA government, which is already bogged down with various controversies. It is noted that the original idea to renovate the Delhi and Mumbai airports was scripted during the BJP led NDA era, 2003. And a draft which was prerequisite to bid for the build and operate system was specified by the NDA. However as per report the next UPA government had changed some valid points in the bid favoring the corporate. (With Inputs from Internet- Aarkay)

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