Finance Minister Arun Jaitley today asked the Congress not to treat the verdict in the 2G case as some kind of ‘badge of honor’, asserting that the auction policy was designed to promote corruption and the investigating agency would have a close look at it. “The policy was arbitrary and designed to promote corruption. It was implemented in an unfair manner. It was causing loss of revenue to the government and the subsequent auctioning was getting a much higher price, ” the Finance Minister said reacting to the judgment by the special CBI court in which all the ccused were acquitted.
Commenting on the political aspect of the case, the finance minister said, “The Congress party leaders are treating this judgment as some kind of ‘badge of honor’ and a certification that the 2G allocation policy was an honest policy.”Recollecting 2G spectrum auction history, he said, “In the year 2007-08, the spectrum was given not by an auction, nor by a market mechanism determining the price of 2007-08. But on the basis of the price discovery made in 2001, the spectrum value was fixed at Rs 1,734 crore per licensee.
‘Even within the policy implementation, there was a huge element of arbitrariness. The cut-off date was advanced, the first come and first serve policy was intended to serve a select few. And even this policy was arbitrarily changed and converted into first come and first pay policy. Moreover, the chosen few were informed in advance about the change in policy,” he said. In February 2012, the apex court had quashed the first come and first serve or first come and first pay policy and directed the government to have a fresh policy by which an auction would take place.In 2015 and 2016, the NDA government announced the auctioning of 2G spectrum and generated huge sums.
“The same spectrum which was allocated at Rs 1734 crore during UPA regime gave the NDA government Rs 1.10 lakh in 2015, and Rs 65, 000 crore in 2016, which shows the policy had caused massive,’ said Mr. Jaitley.On the judgment, he said, “For entire scam, who is liable? In a criminal case, the judge has said no one is liable. The special court today acquitted former telecom minister A Raja and DMK lawmaker Kanimozhi in the 2G scam which rocked the telecom industry in 2011 and was key to the previous government’s defeat three years later. All others accused which included top brass from corporate world were given a clean chit as well.