Arun Jaitley: Congress taking 2G verdict as badge of honor!
What's the story
FM Arun Jaitley slammed Congress for treating the 2G verdict as a "badge of honor." He declared that Congress should recall why the case was investigated. He remarked that Congress's "zero loss theory" was proved wrong after SC cancelled spectrum-allocation in 2012. Earlier today, a special CBI Court acquitted former Telecom minister A Raja, DMK MP Kanimozhi and others in the 2G spectrum case.
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What is the 2G spectrum case?
In 2007, as telecom minister, A Raja had allegedly subverted rules of spectrum allocation. Further, companies like Shahid Balwa's Swan Telecom and Sanjay Chandra's Unitech were given licenses despite not having any experience in running telecom businesses. Raja, Kanimozhi and several others reportedly received kickbacks for allotting spectrum licenses. According to the CAG, the scam had caused the government a loss of Rs. 1.76Lcr.
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What else did Jaitley say?
Jaitley was confident that if investigating agencies study the case, court verdict might be questioned. He said the policy used by UPA promoted corruption, which was proved by a subsequent auction that gave higher prices. The brouhaha over the 2G verdict has just begun.