The 2G scam
While there is little doubt that the spectrum has been allotted to a favoured few in an opaque manner, I have doubts about the figure of $40b (Rs.176,000 crore) that is being bandied around.
This figure is based on extrapolating the fee received for 3G to 2G. I doubt if biddrs would have paid as much for an earlier generation technology. And had they paid an extra $40B for 2G, they wouldn't have had resources to bid so high for 3G.
Few of those who obtained 2G licenses promptly sold it to others at 10x the price. I would say that this difference is the real loss that 2G has caued to the govt and citizens of India.
This figure is closer to Rs.10,000 crore or $2.25B.
Not that this excuses the corrupt, but then the scale is far less scandalous.
The Press in India has been sensationalising news of late.
Corruption Tops Indian Minds
Country
Issue
Persons share
India
Corruption
69 %
China
Climate Change
68%
Pakistan
Terrorism
64%
US, UK
State of Global Economy
61%
Russia
Extreme Hunger/Poverty
59%
Source: Times of India, 11 December, 2010
This figure is based on extrapolating the fee received for 3G to 2G. I doubt if biddrs would have paid as much for an earlier generation technology. And had they paid an extra $40B for 2G, they wouldn't have had resources to bid so high for 3G.
Few of those who obtained 2G licenses promptly sold it to others at 10x the price. I would say that this difference is the real loss that 2G has caued to the govt and citizens of India.
This figure is closer to Rs.10,000 crore or $2.25B.
Not that this excuses the corrupt, but then the scale is far less scandalous.
The Press in India has been sensationalising news of late.
Corruption Tops Indian Minds
Country
Issue
Persons share
India
Corruption
69 %
China
Climate Change
68%
Pakistan
Terrorism
64%
US, UK
State of Global Economy
61%
Russia
Extreme Hunger/Poverty
59%
Source: Times of India, 11 December, 2010
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