The news is that the telecom minister in appointed prime minister Manmohan Singh’s cabinet finally resigned. The charge against him is that he sold off some spectrum at prices that brought in $X in revenues to the government, which is about Rs 1,70,000 Cr (~$40 billion) less than $Y which would have been the revenue had the spectrum been sold using some other method such as an auction or whatever. Time for me to inject some sanity in the insane figure of Rs 1.7 lakh crores being bandied about by the media.
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