(*Don't forget to check your Email and WhatsApp daily.* ) *Coal Scam (Coalgate) (2012)* *Overview* : 💳 The coal scam, also known as Coalgate, involved the allocation of coal blocks by the Indian government to private companies without competitive bidding, leading to significant financial losses. *Key Points* : ➡ Irregular Coal Allocations: Coal blocks were allocated at throwaway prices without transparency or competitive bidding. ➡ Loss to the Exchequer: The scam allegedly caused a loss of $33 billion to the national treasury. ➡ Political Fallout: The scandal led to political tensions and scrutiny on the UPA government. *Takeaways* : ➡ Fair Business Practices: All business practices, especially related to natural resources, should follow fair and transparent processes. ➡ Regulatory Reforms: A regulatory framework for resource allocation is necessary to prevent such misuse. ➡ Government Accountability: Governments must be accountable for the transparent allocation of public resources. *React with ❤️ if you find this informative* .