PAC will act on CAG report: Dy CAG

Report indicts communication minister; gives clean chit to rest

samirsachdeva

Samir Sachdeva | November 16, 2010



The deputy comptroller and auditor general (CAG)  Rekha Gupta on Monday stated that the CAG audit report on issuance and allocation of 2G spectrum has been tabled in the Parliament and any further action on the same rests with the Public Accounts Committee (PAC) of Parliament.  Gupta was speaking in a press briefing on the highlights of CAG audit report on issuance and allocation of 2G spectrum.

The report gives a clean chit to the prime minister, minister of law and justice, finance secretary, telecom secretary and member (finance) of telecom commission highlighting that they were not in favour of hasty allotment of licenses without revision of spectrum prices. However the report is silent on in-action of all above.

The report calculates presumptive loss to the exchequer through four methods. On basis of the rates of 3G auction the loss is estimated at 1.76 lakh crores. The loss on basis of sale of equity by the new licenses is estimated at .69 lakh crore (in case of Unitech) and .57 crore (in case of Swan). The loss in case of proposed offer by S Tel is estimated at .67 lakh crore.

R P Singh, director general, CAG in a presentation stated that department of telecom overlooked the suggestions of ministry of finance, ministry of law and justice and the prime minister. He also highlighted that the opinion of attorney general was felt to be out of context at the level of minister of communication and IT.

The CAG report highlights that even the first come first served (FCFS) policy was deviated and the issue of letters of intent was restricted to applications receipt upto September 25, 2007. The report also highlights that 85 out of 122 licenses issued in 2008 were to the ineligible companies.

 

Comments

 

Other News

Listening to tomorrow: The imperative for youth-driven data in India

Over a decade and a half ago when I was still a student, millennials felt the burning need to break down the barriers of gatekeeping in traditional media. Young voices, brimming with ideas and opinions, were often sidelined, their perspectives deemed too marginal or unrefined for mainstream discourse. This

Israel-Palestine War: Lessons from Past Peace Efforts

Israel-Palestine War: Give Peace a Chance By Dr. Joseph K. Thomas IndiePress, 243 pages, Rs 399 T

How inner work helps subvert painful narratives

Unashamed By Neha Bhat HarperCollins, 240 pages, Rs 499   * How do I connect better with my partner? *&nbs

Heatwave spikes power demand: measures taken to ensure supply

The Northern Region has been experiencing high power demand conditions due to a prevailing heat wave since May 17. Despite these challenging conditions, the highest ever peak demand of 89 GW in the Northern Region was successfully met on June 17. This achievement was made possible by import

PM to release 17th installment of PM-KISAN at Varanasi on Tuesday

Prime minister Narendra Modi will release the 17th instalment of the PM-KISAN scheme on Tuesday at Varanasi and more than 9.26 crore farmers will receive the benefits amounting to over Rs.20,000 crore. The PM will also distribute the certificates to more than 30,000 SHGs trained as Krishi Sakhis to work as

Taming turbulence in Indian aviation

The booming Indian aviation industry, among the fastest growing sectors in the world, is projected to be valued at $40 billion by 2027. But, despite robust demand for air travel across the country, more than 50 airlines have closed down in the last decade in India and most private airlines have closed with

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter