INDIA is outraged at this continuing scale of Corruption
As India’s GDP grows past US $ 1.4 trillion,so does the Corruption scale in tandem….the CAG Report just tabled in Parliament notes that the Loss to the National Exchequer in the 2G Spectrum Sale was a whopping Rs 176645 lakh crores if one considers the 3G realisations this year….that’s close to US $ 40 Billion !….that’s nearly 3% of our GDP !….would have taken care of half our Fiscal Deficit !
UPA Government lead by Congress with it’s Political allies for now…notably and yet DMK from Tamil Nadu,whose A Raja was the Telecom Minster who is alleged to have caused this Loss….they defend that this a presumptive loss…in that no real money has been lost !…but this money could,should and would have actually come to the Government and Public Domain from the Private Corporate Sector….the Telecom Minister deliberately contravened,tweaked,violated policy and procedures and even ignored PMO’s advice and sold the 2G spectrum asset dirt cheap to favoured corporate groups….Swan (fronting Anil Ambani Group),Videcon,Unitech are some of the names …..surely some in the government were favoured in return…this is not presumptive ! …many of these groups were ineligible….many have yet to start their service even after nearly three years….and many quickly went on to sell equity stakes at five and ten times valuations based on the relatively meagre quantum of 2G Licensing fees paid…this too is not presumptive!
Opposition party BJP wants a Joint Parliamentary Committtee (JPC) Probe…..JPC has never really been a successful tool….more of a whitewash…..more to protect from more skeletons coming out from the cupboard of all political parties…..MP’s across Political Parties cannot agree on the Floor of the Houses !…what will they concur with in a JPC !…you will get many dissent notes
Congress wants the due process to be followed of the CAG Report moving to the Public Accounts Committee (PAC)….but the PAC has no judicial authority…it merely reviews the CAG Report to check for appropriateness and completeness of conclusions backed by adequate supportings…it can merely delete or alter the wordings in the CAG report
INDIA wants the perpetrators to be pinpointed and punished fast….and be jailed
Our Supreme Court has even just questioned our Prime Minister,Manmohan Singh to explain his inaction in this 2G Scam and as to why A Raja was retained as Telecom Minister and not asked to step down much earlier….One of the Panelists on the TV spoke this of our PM ” He only listens to Uncle Sam and Sonia Ma’am !”