Zero loss R.I.P.

The Union Cabinet’s decision to fix Rs 14,000 crore as the base price for 5 Megahertz of 2G spectrum in the upcoming auctions must surely bring closure to the contentious debate over exactly how much the 2G scam cost the exchequer. For one, it validates the Comptroller and Auditor General’s Rs 1.76 lakh crore upper-end loss calculation and methodology for the 2008 2G spectrum sale. Broken down, the CAG’s figures lead to a Rs 3,350 crore/MHz value for 2G spectrum.

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