CAG submits report on 2G spectrum to govt

Thursday, 11 November 2010, 06:08 IST
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New Delhi: The Comptroller and Auditor General of India today said it has submitted to the government the report on the 2G spectrum allotment that is presumed to have caused a revenue loss of up to 1.76 lakh crore. "Yes, we have submitted the final report to the government. I cannot disclose the findings of the report. It is up to the government when it will be tabled in Parliament ... may be within a fortnight or it may take long," Comptroller and Auditor General Vinod Rai told reporters here. Sources in the know say that the CAG has accused the telecom ministry for undervaluing 2G spectrum, sold to new players in 2008, and held that the allotment price was not realistic, which has caused a revenue loss of up to Rs 1,76,700 crore to the government.
Source: PTI