The Manmohan Singh government is digging an even bigger hole for itself by claiming there was no loss of revenue from the sweetheart sale of 2G spectrum to favoured corporate houses. “Milord,” cunning lawyers have argued in countless Hindi movies, “how can there have been a murder when there is no dead body?” I was reminded of this line when I heard Kapil Sibal — who has been performing as an...
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Sibal ignored other scenarios in CAG report by Sandeep Joshi
Also failed to notice how his predecessor misled the Prime Minister Communications and IT Minister Kapil Sibal might have termed the Comptroller and Auditor-General of India (CAG)'s calculation of loss to the exchequer from underpricing of 2G spectrum “utterly erroneous,” but he has completely ignored other scenarios presented by the auditor where new operators made crores by selling their stakes to global telecom giants or were themselves ready to pay more...
More »Court refuses to take cognisance of Sibal stand by J Venkatesan
The Supreme Court on Monday made it clear that it would not take cognisance of media reports about the statement of Union Communications Minister Kapil Sibal disputing the report of the Comptroller and Auditor-General and saying that no loss was caused to the exchequer in the 2G spectrum allocation. When counsel Prashant Bhushan took exception to the statement made by Mr. Sibal, Justice Singhvi observed, “The issue has now become debatable.”...
More »Mr Sibal's arithmetic
There is nothing sinister or diabolic about Union minister Kapil Sibal’s latest argument regarding the findings of the Comptroller and Auditor General (CAG) of India pertaining to the loss to the exchequer from 2G telecom licences in 2007. The basic argument pertaining to the erroneous notion of “presumptive loss” has been made before and Mr Sibal’s arithmetic is credible. Too much need not be made about this being a ministerial...
More »Kapil Denial Sibal
Economics is the art of evaluating the cost of the opportunity foregone. This is a delicate skill, as are all things that dabble in what-might-have-been. It is never that difficult, therefore, to over- or underestimate the size of the opportunity cost. In the case of the report of the Comptroller and Auditor General on the awarding of 2G licences, the figures should certainly be open to debate. They certainly come...
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