Two more explosive CAG reports ready

New Delhi: Fresh trouble seems to be brewing for the UPA government, as the Comptroller and Auditor General (CAG) has completed two more highprofile audit reports that could bring attention back to political corruption and misdeeds at the highest levels. 

    Sources said the CAG has finalized and printed its audit reports on Air India and oil exploration contracts, including the one for Reliance's KG Basin. The two reports are expected to be forwarded to the government in the next few 
days. It's up to the government then to table it in Parliament as the scheduling is done by it. 
    Whenever they are tabled, the reports are likely to draw attention to the government's decision making—by respective ministers and even an empowered group of ministers—on some of the major commitments of public funds and resources. The CAG report on AI covers, among other things, the purchase of 111 aircraft for over Rs 40,000 crore in 2006. Sources said CAG had made adverse observations on several aspects, ranging from the wisdom behind ordering so many aircraft by a financially weak organization to the financing of the deal. Losses on account of what's described as wrong purchase plans, inflated loans, delay in the return of leased aircraft, etc, are estimated at over Rs 2,000 crore. 
MORE GRIEF FOR GOVT 
CAG report on Air India puts losses on account of "wrong purchase plans, inflated loans, delay in the return of leased aircraft" etc at over 2,000cr 
In oil exploration, direct loss estimated at a few thousand crores. Loss blamed on contracts being given to RIL for KG Basin, to Cairn India in Barmer district, and to a joint venture comprising RIL, British Gas and ONGC in the Panna-Mukta and Tapti gas fields CAG 'faults' AI's shopping at one go 
New Delhi: The CAG's report on oil exploration contracts has reportedly estimated direct loss at a few thousand crores because of the contract given to RIL for KG Basin, to Cairn India in Barmer district, and to a joint venture comprising RIL, British Gas and ONGC in the Panna-Mukta and Tapti gas fields. 
    The Air India audit covers the period of 2002 to 2010, most of which falls under the UPA, when Praful Patel was the civil aviation minister. Raising questions about the very contract for the aircraft purchase, it has said the purchases should have been executed in two phases. The original plan was to purchase 35 Boeing aircraft on firm order, with the option for adding 15 at a later stage. But the EGoM altered this to buy 50 at one go because of possible financial benefits. 
    The top auditor has also drawn attention to the delay in the setting up of an MRO (maintenance, repair and overhaul) facility in India by Airbus as an offset for the contract. It has examined the merger of Air India and Indian Airlines as well.