New Delhi, July 29 -- Report of the Comptroller and Auditor General (CAG) of India on Performance Audit on 'Inventory Management in SAIL' was presented in Parliament on Tuesday.

The following are major findings of the report:

Steel Authority of India Limited (SAIL) had not fixed any benchmark for inventory carrying cost per tonne of raw material, semi-finished material and finished goods despite the fact that on an average, it had an inventory of Rs.21,698 crore during 2016-17 to 2022-23 which constitutes about 67 per cent of its current assets, the CAG said in a statement.

SAIL failed to maintain stock levels of raw materials like iron ore, coke, sinter due to which Blast Furnace was put under off-blast state resulting in inability to...