UPA's 2G policy was corrupt and even SC held that view, says Arun Jaitley

Post the judgement of Patiala House special court on the 2G spectrum case, Finance Minister Arun Jaitley said that the Congress leaders are treating this ruling as a badge of honour and certification that the 2G spectrum policy was an honest policy but are forgetting that the Supreme Court had upheld that this was a dishonest policy.

Talking to CNBC-TV18, Jaitley pointed out the political aspects of the case. He said that in 2007 and 2008 spectrum was given not by an auction or by a market mechanism determining prices of 2007 and 2008 but on basis of price discovery made in 2001.

He said per licensee the spectrum value was was fixed at Rs 1,734 crore. Within the policy implementation there was huge element of arbitration and cut of date in advance. But then the policy was changed to first come, first pay and favourites were informed in advance about this policy, he added.

In February 2012, the Supreme Court had quashed the policy of first come, first pay. This dishonest policy has has already been upheld by SC, Jaitley said.

He added that each and every case of allocation was quashed by the apex court.

He further said that the then government was directed to auction the spectrum via a fresh policy.