November 23, 2012 / 13:12 IST
Giving another twist to the 2G spectrum allocation controversy, former Comptroller and Auditor General official has questioned the CAG's estimates of presumptive loss of Rs 1.76 lakh crore. "After completing the audit of Ministry of Telecom, which was under my direct charge, I prepared a draft audit report covering each and every aspect ... My report did not contain any loss figure," said former Director General of CAG RP Singh.
He added that his report carried "two types of figures which indicate the less recovery" based on Rs 1,658 crore that was charged for giving out pan-India licence along with spectrum. "Another figure which I had indicated not as exactly as a loss but that amount that can be recovered . I found some people having more spectrum than what is provided under contractual agreement," Singh said in an interview to a television channel.Also Read: 2G auctions: Montek says reserve price too high; EGoM to decide course He said that his report mentioned that Rs 37,000 crore can be recovered from those holding excess spectrum. The CAG report, which was tabled in Parliament in November 2010, had pegged the revenue loss to the exchequer on account of allocation of 2G spectrum in 2008 at whooping Rs 1.76 lakh crore raising a political storm that led to sacking of Telecommunications Minister A Raja and setting up of a Joint Parliamentary Committee (JPC) to probe the issue. The controversy over 2G spectrum allocation also led to cancellation to 122 licences by the Supreme Court.The issue took a different turn when the recently concluded auction of 2G spectrum evoked lukewarm response and the government managing to garner only Rs 9,407 crore. Several central ministers including Finance Minister P Chidambaram and Telecommunications Minister Kapil Sibal had described the CAG's loss estimate of Rs 1.76 lakh crore as "mythical". Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
