Mr. X is in the steel business and he is known to the local politicians and keeps on inviting them in his parties and they are obliged by the expensive gifts by Mr. X time to time.
One day he comes to know that the Government Is granting subsidy to the local computer institutes, say the computer machines worth Rs. 10000 each are being supplied at the cost of Rs. 2000 each only. Mr. X has the great idea in his mind. He starts a new company (on papers) , "Mr. X Computer Institute" and is granted the subsidy for 10 computer machines and selling it to another local institute earning Rs. 80000 without even starting the business.
Our telecom ministry sold the spectrum license to the companies like Unitech, Swan telecom, Shyam Telecom, Tata Telecom etc. for Rs. 1651 Cr. Not to say these companies further sold the same to foreign telecom operators on the very higher rates and thus making the huge profits worth Rs. 4500 Cr. , Rs. 2600 Cr., Rs. 2100 Cr. and Rs. 1350 Cr. respectively. The license was sold to many such companies and this is the biggest scam in India ever.
Formerly in 2001 when licence was to be sold it was sold through the process of auction. And this price of Rs. 1651 cr. was fixed at that time. Amazingly our telecom minister maintained the same price of 2001, perhaps he forgot that in 2001 in India there were 3.5 million mobile phone users and now there are more than 30 cr. users in India. Perhaps he forgot Unitech is known for constructing buildings and not for providing telecom services in any part of India.
These telecom companies must be grateful to Mr. A. Raja for this lollypop worth Rs. 1651 Cr. But public want to know on what basis such licences are provided, many others may be waiting outside your office for their turn.
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