New 2G base price proves CAG right

The Union Cabinet's decision to set the reserve price for auction of 2G spectrum licences at Rs 14,000 crore is an admission to the fact that government's official auditor, the comptroller and auditor general (CAG), was not totally off the mark when it had estimated the loss — arising out of the allocation without bidding in 2008 — to the tune of Rs 1.76 lakh crore.

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