×

Business

Years After Ex-CAG Vinod Rai Suggested 1.76 Lac Cr Loss In 2G Spectrum, Lesser Bids Pour At 5G Auction

The auction of the 5G spectrum ended on Monday with the total amount of bids reaching 1.5 lakh crores. The total bid falls short of the presumptive loss of 1.76 lakh crore estimated by Rai’s report in the 2G spectrum scam.

former Comptroller and Auditor General of India Vinod Rai.
File photo of former Comptroller and Auditor General of India Vinod Rai. (Image: ANI/File)

The current unfolding of the 5G auction and the subsequent allotment rates of the bands to various telecom industry players do not seem to fall in place with the accusations made against the UPA government by the then Comptroller and Auditor General of India (CAG), Vinod Rai, in the 2G spectrum scandal.

The auction of the 5G spectrum ended on Monday with the total amount of bids reaching 1.5 lakh crores. The total bid in the 5G spectrum auction happens to fall short of the presumptive loss of 1.76 lakh crore estimated by Rai’s report in the 2G spectrum scam.

In 2010, the CAG, headed by Vinod Rai, alleged in a report that the licenses for the 2G spectrum had been issued to telecom operators at menial prices causing a loss of 1.76 lakh crore to the exchequer. Rai, who was then hailed as the ‘nation’s conscience keeper’ for supposedly exposing the 2G scam, had also alleged that 2G spectrum was allotted to ineligible applicants who had submitted fraudulent documents for acquiring the licenses.

ALSO READ: Reliance Jio Says Fully Ready For 5G Rollout To Drive India’s $5 Trillion Economy Dream

In 2014, Rai gave multiple media interviews naming Sanjay Nirupam, one of the MPs in UPA government, that Nirumpam had pressured him to keep former Prime Minister Manmohan Singh’s name out of the scam. Interestingly, in 2021, Rai had tendered an apology to Nirumpam in a defamation case.

The 2G scam was said to be one of the biggest scam to have happened in independent India. One of the biggest consequence of the expose was that it immensely helped in the rise of the BJP and AAP.

ALSO READ: Yamaha AEROX 155: India’s Fastest Scooter