NewsX@9: 2G spectrum auction flops; BJP, Cong play blame game

The government has garnered a modest Rs 9,407.64 crore from 2G spectrum bids. The figure is less than a quarter of the Rs 40,000-crore (the target was later lowered to Rs 30,000 crore) the Centre had been hoping to raise from the 20-year lease-out of scarce radio waves. The poor yield from spectrum sale should bring some sobriety to the sky-high estimates that the Comptroller and Auditor General (CAG) had made two years back while computing the presumptive loss the government had suffered by doling out 122 licences in January 2008 through a scandal-tainted process that the apex court eventually overturned.

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