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...

In an effort to stem the tide of corruption and keep the builder lobby "on a tight leash", a number of checks and guards have been introduced in the new coastal zone regulations. But the one that is likely to cause much consternation among developers is the Centre's insistence that private companies undertaking any redevelopment of koliwadas (fishing villages) within 100 m of the coastline will come under the purview...

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.”...

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...

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...