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the presumptive loss is the funniest thing invented by our CAG. During UPA time, then CAG, Rai played this game very well to meet the demands of his political leaning and created havoc in Indian economy that we are still to recover from. He invented many lakh crores of corruption in everything under this imaginative "la la land", and it all evaporated with regime change. I wonder how does one audit a projected yield/profit of a project or contract before even it materialises?
It is like counting the mangoes, pricing it and recovering tax for next hundred years from a farmer before he plants a seed!!
The government, if at all they want industries to come up in this country, must immediately take necessary steps to get rid of this nonsense.
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