After terming CAG's estimate of Rs 1.76 lakh crore loss in 2G spectrum allocation as a “myth”, Finance Minister P Chidambaram today said, the projected Rs 1.86 lakh crore loss in coal blocks allocation would also turn out to be a mythical and fancy number.

In an interview to PTI, Mr. Chidambaram was, however, quick to say there was no sense of vindication or celebration in the government over last week's 2G spectrum auction failure.

He expressed confidence of meeting the Rs 40,000 crore revenue target from sale of spectrum as the auction process is not yet complete. Mr. Chidambaram said the government has more spectrum to auction.

Mr. Chidambaram, during the interview, spoke on a variety of subjects including his optimism on meeting disinvestments and spectrum sales target, confidence on pushing through with reforms measures and the relationship with RBI which he said was not antagonistic.

He disclosed that amendments to GAAR, the controversial law against tax avoidance through foreign investments, have been finalised. He said, now it will go to the PMO for approval.

GAAR (General Anti-Avoidance Rules), which was proposed in 2012-13 budget with a view to preventing tax evasion, evoked sharp reactions from foreign as well as domestic investors who feared that unbridled powers to taxmen would result in harassment of investors.

The government later appointed a committee headed by tax expert Parthasarthi Shome to look into their concerns.

Mr. Chidambaram said that government was keen to get the investment engine going and measures were being taken by the government to create a better climate.

Noting that the Council of Ministers and the party- government conclave were fully sensitised to the nature of the challenge, Mr. Chidambaram expressed the confidence that he will use the opportunity to sensitise the Opposition as well as Parliament.

He ruled out any fiscal measures between now and the next Budget saying anything on the tax side would come up only in the Budget.