CAG gag

Policy uncertainty, the received wisdom goes, is the key reason Indian businessmen prefer to locate their investments overseas - including in Africa - rather than in India. Jindal Steel and Power Ltd chief Naveen Jindal added a new deterrent to the list: the office of the Comptroller and Auditor General (CAG). Under investigation following a CAG report for irregularities in coal mines allocated to it by the government, Jindal told reporters in Raigarh that he planned to set up power plants in Africa because there was no fear of CAG nor a coal scandal in countries there. What is more, he added, investors were given red-carpet treatment and assistance in those countries, the unspoken sub-text being that India didn't offer similar treatment to prospective investors.