2G auction gets cold response; fails to prove CAG report

15 November, 2012

Given the cold response of companies to the 2G auction, one is convinced that the so-called scam revelaed by the CAG report regarding the previous selling of spectrum, was just a hype - nothing more than that.

AFTER THE so called presumptive loss of Rs 1.76 lac crore for not auctioning 2G spectrum, revealed by the CAG report, there was too much hue and cry in all quarters throughout India. There was speculation, charges and counter charges by parties and other wings regarding the scam and money exchnage between companies and politicians.

I don't know what to say after going through the results of the auction for 2G spectrum. Now there is not much discussion on television for this auction result. Though in 2010, CAG report indicated a presumptive loss of Rs 1.76 lac crore to exchequer by not putting 2G spectrum for auction.

Well done CAG, you have done a great job by cornering the government for its wrongdoing. But what is the reality today. There were no taker for 2G in a few circle, especially in metros like Mumbai and Delhi.

The truth is that Government had failed to get a good response from the industry for 2G spectrum auction. There were very few takers in two- day auction process for 2G providing government much less than expected revenue.

It is confusing how can anyone believe CAG data in future for such presumptive losses in different other scams like this.