Not auctioning 2G spectrum costs govt 1 Lakh Crore

NEW DELHI: Various figures for the loss to the exchequer due to 2G spectrum not being auctioned have been tossed about, ranging from Rs 20,000 crore to Rs 50,000. Actually, the figure is over Rs 100,000 crore, when one considers the revenue earned by the 3G spectrum auction and regulator Trai's recommendations, issued on May 11, that "3G prices be adopted as the current price of spectrum in the 1800 MHz (2G) ban."

Interestingly, contrary to popular belief, Prime Minister Manmohan Singh did not defend telecom minister A Raja at a press conference on Monday, but instead, made two leading statements distancing himself from Raja's deeds.

MORE INFO - http://economictimes.indiatimes.com/news/news-by-industry/telecom/Not-auctioning-2G-spectrum-costs-govt-over-Rs-1-lakh-cr/articleshow/5992739.cms