WHAT IS SPECTRUM SCAM?- 2G licenses issued to private telecom players at throwaway prices in 2008
- CAG: Spectrum scam has cost the government Rs. 1.76 lakh crore
- CAG: Rules and procedures flouted while issuing licenses
CHEAP TELECOM LICENSES
- Entry fee for spectrum licenses in 2008 pegged at 2001 prices
- Mobile subscriber base had shot up to 350 million in 2008 from 4 million in 2001
NO PROCEDURES FOLLOWED
- Rules changed after the game had begun
- Cut-off date for applications advanced by a week
- Licenses issued on a first-come-first-served basis
- No proper auction process followed, no bids invited
- Raja ignored advice of TRAI, Law Ministry, Finance Ministry
- TRAI had recommended auctioning of spectrum at market rates
FAVOURITISM, CORPORATES ENCASH PREMIUM
- Unitech, Swan Telecom got licenses without any prior telecom experience
- Swan Telecom given license even though it did not meet eligibility criteria
- Swan got license for Rs. 1537 crore, sold 45% stake to Etisalat for Rs. 4200 crore
- Unitech Wireless got license for Rs. 1661 crore, sold 60% stake for Rs. 6200 crore
- All nine companies paid DoT only Rs 10,772 crore for 2G licences
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