News Wire

This is why Raja must resign

Union telecom minister A Raja promised that he’d resign if he is proved to have done anything wrong in the allotment of licences. The sale of equity by two of the new licencees who have no infrastructure, no subscribers and no revenue, has proved that the spectrum they held was valued at Rs 20,000 crore. But the government got only Rs 9,000 crore, causing a loss of a whopping Rs 51,000 crore. Why didn’t Raja auction the licences?