The Comptroller and Auditor General of India (CAG) has asked NMDC to factor in market trends while fixing production targets and conduct proper due diligence to the risk factors before embarking on national and international investment ventures.
It added that the targets were fixed without giving due cognisance to adverse findings of the consultant appointed for the purpose and without taking into consideration the declining trend in the domestic and international prices of iron ore.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
