Millennium Post

‘2G auction to get the govt a substantial sum’

The government is expecting a ‘substantial’ amount from the 2G spectrum auction in November this year, Finance Minister P. Chidambaram said Friday.

‘The spectrum released by the cancellation of 122 licences will be auctioned. Reserve price has been kept at Rs.14,000 crore. Now, what will be the realisation in the auction I cannot say, but I think we should realise a substantial and significant amount,’ Chidambaram told reporters. The SC had 2 Feb  ordered cancellation of 122 telecom licences issued during the tenure of the former telecom minister A Raja and asked the government to redistribute it through auction.

‘We have accepted the judgment that the 122 licences will stand cancelled and spectrum released from that cancellation will be auctioned.

That was never an issue. That process will continue. What we will realise, that I cannot say at the moment,’ he added.


IAC has said that the govt and its ministers are using the innocuous part of the judgement for going on an overdrive after the SC’s opinion on the 2G presidential reference to project the judgement as a vindication of the govt’s policies and manner in which they have been allocating spectrum, coal and other valuable natural resources worth lakhs of crores to private companies.

IAC, in a statement, said that on the basis of that innocuous part of the judgement, the government has even used the SC's opinion to criticise the CAG. It said that 'this only shows the dishonest intent of the govt.’
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