CAG DROPS ₹1.76 LAKH CRORE 2G BOMBSHELL ON UPA CABINET
Vinod Rai Report Details Arbitrary Cut-Offs & Undervalued Spectrum Allotments under A. Raja
On 16 November 2010, the Comptroller and Auditor General (CAG) of India officially tabled its historic audit report on the allocation of 2G Unified Access Service Licenses in Parliament.
The report estimated a monumental loss of ₹1.76 Lakh Crore to the national exchequer due to A. Raja awarding spectrum at 2001 benchmark prices on a rigged "First-Come-First-Serve" basis.
Telecom companies with zero telecom background were granted lucrative licenses within hours of advancing arbitrary cut-off dates, who then flipped their equity to foreign players for billions in windfall profits.
📌 Key Figures & Decision Makers
- ▸ A. Raja (Telecom Minister)
- ▸ Manmohan Singh (Prime Minister)
- ▸ Vinod Rai (CAG)
- ▸ Kanimozhi Karunanidhi
"Zero loss! There is absolutely no loss to the government exchequer. The policy helped cheap call rates."
- • CAG Report No. 19 of 2010-11: Allocation of 2G Spectrum (CAG of India, 2010)