11/18/2023 0 Comments Spectrum corruption time warner![]() The telecom ministry under A Raja changed rules and eligibility criteria several times in the run-up to auction. In a free and fair bidding process, these profits should have accrued to the public exchequer. The premium earned by these new entrants to the telecom sector was estimated to be the true value of the spectrum. The CAG report went on to say that licenses owners had in turn sold significant stakes to the Indian/foreign companies at high premium within a short period of time. Moreover, licenses had been issued to ineligible applicants who had deliberately suppressed facts, disclosed incomplete information, submitted fictitious documents and used fraudulent means for getting licenses and thereby access to spectrum. On 16th November 2010, the Comptroller and Auditor General of India (CAG), the supreme auditing body of the country came out with its report on the issuance of licenses and allocation of 2G spectrum by the Department of Telecom.ĬAG, then headed by Vinod Rai, revealed 2G licenses had been issued to telecom operators at throwaway prices causing a loss of Rs 1.76 lakh crore to the exchequer. The case was investigated by the Central Bureau of Investigation which filed an 80,000 page chargesheet before the trial court. ![]() 1.76 lac crores that the scandal took its own definitive shape and moniker- the 2G Scam. Only when the Comptroller and Auditor General of India in a report quantified and pegged the scam loss to Rs. Politically however, irregularities in the allocation of Second Generation spectrum licenses for mobile communication and limited data transmission was too complex a subject for public comprehension or popular political lexicon. Time Magazine has called it the second biggest instance of the abuse of executive power- just a notch below Richard Nixon's Watergate scandal.Įxactly ten years back, when the murmurs of wrongdoings were first heard in the corridors of powers in Delhi, the opposition demanded an investigation. The railroad boom in the 19th century was ripe with such conditions.It was said to be the biggest scam in the history of Independent India. The conditions that enable oligopolies to exist include high entry costs in capital expenditures, legal privilege (license to use wireless spectrum or land for railroads), and a platform that gains value with more customers (such as social media). Oligopolies in history include steel manufacturers, oil companies, railroads, tire manufacturing, grocery store chains, and wireless carriers. Government policy can discourage or encourage oligopolistic behavior, and firms in mixed economies often seek government blessing for ways to limit competition.For consumers and citizens, the consolidation of private power generally means they will incur higher costs, and historically, consumer efforts have been effective over time at stopping some of the abuses of power that result from industry consolidation.are in film and television production, recorded music, wireless carriers, and airlines. Currently, some of the most notable oligopolies in the U.S. ![]() ![]() Since the 1980s, it has become more common for industries to be dominated by two or three firms as merger agreements between major players have resulted in industry consolidation.An oligopoly is when a market is shared by only a small number of firms, resulting in a state of limited competition.
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