Auction not, for cash

Lately, doubts have been raised over the desirability of auctions as a method of distributing natural resources for exploitation by private parties. These criticisms have mounted especially after the Supreme Court’s 2G spectrum ruling in February and the Comptroller & Auditor General of India’s recent report on allocation of captive coal blocks. The most commonly voiced concern revolves around bidders quoting huge sums for acquiring rights for usage of such resources, which they may, then, load on to the final consumers.

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