2G slap for cash hit government

This was a bridge too far for a cash-strapped Indian government. In an apparent bid to bridge the fiscal deficit, it was banking on raising over Rs 40,000 crore from the 2G spectrum auction. But the plan failed abysmally as telecom companies - bristling with anger over an exorbitantly high reserve price of Rs 13,850 crore for all 22 circles set at the auction - decided to stay away.

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