Sensationalism killed the telecom sector: Kapil Sibal

November 16, 2012

sibal

New Delhi, November 16: Attributing ‘sensationalism’ over the CAG’s presumptive loss figure of Rs.1.76 lakh-crore for the “killing” of the telecom sector, the Central Government, on Friday, said it planned to auction by March-end the circles that were not taken in the flopped sale of mobile phone spectrum this week.

It also rejected Opposition allegations that the government was celebrating the failure of the auction and said notwithstanding the poor response, it will garner the estimated Rs.40,000 crore from spectrum sales.

An Empowered Group of Ministers (EGoM) headed by Finance Minister P. Chidambaram will meet soon to decide on price and date for auction of spectrum in circles such as Delhi and Mumbai, Telecom Minister Kapil Sibal told a news conference here.

The government, which had set a reserve price of Rs.14,000 crore for pan-India spectrum on the basis of CAG’s assumption of Rs.1.76 lakh-crore loss caused to the exchequer in the previous sale in 2008, managed a meagre Rs.9,407.64 crore in the auction that lasted barely two days.

“The telecom story is no longer a story that we can talk about to the rest of the world.

People ask me the question, what happened? And quite frankly, I have no answers.

“All I can say that certain events took place and there was a level of sensationalism that took over and the government was, in a sense, limited in its policy prescriptions and had to move forward in a certain way which ultimately has resulted in what we have seen couple of days ago,” he said.

Mr. Sibal said the government got more than Rs.1 lakh-crore from the auction of 3G spectrum, which was used by CAG to base its presumptive loss. “But the customer got nothing” as there was no roll-out of 3G services.

“Where are those Rs.1.76 lakh-crore?” he asked in an apparent reference to the CAG estimate and the money garnered in the auction that concluded on Wednesday.

Mr. Chidambaram, responding to questions on the net gains made by the government, said, “I think you are all jumping to numbers. I thought we started by saying let’s stop myth making first. I think you are making or building more myths now.”

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News Network
March 31,2020

Srinagar, Mar 31: In order to prevent the spread of coronavirus, the Jammu and Kashmir administration on Tuesday declared 20 villages of Kashmir division as 'red zone'.
"20 villages including Parray Mohala Hajin, Chandergeer Hajin, Batagund Hajin in Bandipora district, Gudoora, Chandgam, Pinglena, Parigam, Abhama, Sangerwani and Khaigam in Pulwama district, Waskura in Ganderbal, Sedew, and Ramnagri in Shopian district have been declared as red zones," said Department of Information and Public Relations, J-K, in a tweet.

In Srinagar district, Mehjoor Nagar, Natipora, Lal Bazar, Eidgah and Shalteng villages have been declared as red zones.

"Chadoora in Budgam district of Kashmir division has also been declared as red zone," another tweet said.

The total number of COVID-19 cases in Jammu and Kashmir climbed to 49 after 11 more people tested positive in the Union Territory on Monday. While three of these cases were reported from Jammu region, eight were from the Kashmir division.

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Agencies
February 6,2020

Mumbai, Feb 6: The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth.

The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.

"Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo,” the Monetary Policy Committee (MPC) said.

The six-member committee voted unanimously to hold rates, but also said that there is “policy space available for further action”.

Between February and October 2019, the RBI had reduced repo rate by 135 basis points.

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News Network
April 11,2020

New Delhi, Apr 11: As India battles the Covid-19 crisis, Prime Minister Narendra Modi on Saturday held a video conference with chief ministers primarily to take their feedback on whether the 21-nation-wide lockdown be extended beyond April 14 to stem the tide of the infections.

The Central government is understood to have also obtained views on the issue from all the relevant agencies and stakeholders involved in the efforts to contain the spread of the pandemic.

The video conference, which began at 11am, comes amidst indications that the central government may extend the nationwide lockdown with some possible relaxations even as Punjab and Odisha have already announced extending the lockdown beyond April 14 when the current spell of 21-day shutdown across the country ends on Tuesday.

The Union Home Ministry has sought views of state governments on various aspects, including whether more categories of people and services need to be exempted. In the current lockdown only essential services are exempted.

This is for the second time the prime minister is interacting with the chief ministers via video link after the lockdown was imposed.

During his April 2 interaction with chief ministers, Modi had pitched for a "staggered" exit from the ongoing lockdown.

A PTI tally of numbers reported by various states as on Thursday at 9.30pm showed a total of 7,510 having been affected by the virus nationwide so far with at least 251 deaths. More than 700 have been cured and discharged. However, the last update from the Union Health Ministry put the number of confirmed infections at 7,447 and the death toll at 239.

Addressing floor leaders of various parties who have representation in Parliament, Modi had on Wednesday made it clear that the lockdown cannot be lifted in one go, asserting that the priority of his government is to "save each and every life".

According to an official statement after the Wednesday interaction, the prime minister told these leaders that states, district administrations and experts have suggested extension of the lockdown to contain the spread of the virus.

Before the lockdown was announced on March 24, the prime minister had interacted with the chief ministers on March 20 to discuss ways and means to check the spread of the novel coronavirus.

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