Press Statement given by Shri Kapil Sibal on 2G Spectrum Issues

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Questioning the very basis of the specter of corruption raised around the last round of 2G licenses, Mr. Kapil Sibal, Union Minister for Communications and Technology has termed the CAG loss “erroneous”. The press release states that, “the criticism of large revenue loss has received a great deal of attention in the Press because of the size of the loss stated by CAG. This estimate is based on the assumption that spectrum should have been auctioned or sold in some other manner which would have fetched the Government the highest possible price. However, the logic underlying this estimate is completely flawed. Government policy is formulated with a view to maximize public welfare, and note merely to maximize Government revenues.”

However, even the press release admits that, “In this case in view of the nature of the lapses, criminal investigations are also under way. The Government is totally committed to take stringent action against any person found guilty of corruption or misconduct.” The basic take away from the news release is, (a) the policy of not following an auction for the 2G licenses was proper; (b) however there may be procedural lapses; © the policy was followed giving a preference to consumer interest over revenue generation.

We will also be doing a thorough analysis of the Press Release vis-a-vis the CAG report. For now we are attaching a copy of the press release and the CAG report.

Text of the Press Statement given by Shri Kapil Sibal on 2G Spectrum Issues

[ipaper id=46500731]

PPT of the Press Statement

[ipaper id=46500700 mode=slide]

CAG Report (executive summary below, for complete report click here)

[ipaper id=46500724 mode=book]

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