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...

A CBI probe has indicted a former chairman of India’s technical education regulator for approving increased student intake by a private engineering college 10 years ago despite the institution lacking adequate infrastructure. The indictment of R. Natarajan comes days after the agency had nailed the now-suspended All India Council of Technical Education (AICTE) chairman, R.A. Yadav, in another corruption case. Natarajan was head of the AICTE when the regulator allowed the Chennai-based...

“We are extremely pained at the methodology adopted” The government on Friday described as “utterly erroneous and without any basis” the estimated loss of Rs. 1.76 lakh crore arrived at by the Comptroller and Auditor-General (CAG) on account of allocation of 2G spectrum to telecom operators. “We are extremely pained at the methodology adopted by the CAG for arriving at the [allocation loss] figures that have no basis,” Telecom Minister Kapil...

Telecom minister Kapil Sibal today termed “utterly erroneous, baseless and sensational” the government auditor’s estimate that the alleged 2G scam resulted in a presumptive loss of Rs 1.76 lakh crore. Sibal gave a detailed explanation of the priorities that drove the telecom policy and the benefits over the years to “the aam aadmi” — something his predecessor A. Raja did not or could not articulate till now. Drawing a parallel with free...

The CBI's record in the Jain hawala case was disappointing. But there are powerful elements in favour of unravelling the truth in the 2G scam. On December 16, 2010, the Supreme Court (Justices G.S. Singhvi and Asok Kumar Ganguly, ) ordered a comprehensive and thorough investigation by the Central Bureau of Investigation and the Enforcement Directorate into what has become notorious as “the 2G scam.” The investigation, into spectrum allocation from...