Lessons from the 2G debacle

India’s efforts to raise around Rs.30,000 crore from the sale of spectrum for second-generation (2G) telecom services came a cropper, with the auction ending in two days, and raising, for the government which hoped to use the money to help keep its fiscal deficit down to 5.3% of gross domestic product (GDP) in 2012-13, a mere Rs.9,407 crore.

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