2G spectrum scam

The 2G spectrum scam was an indian telecommunications scam and political scandal in which politicians and government officials under the Indian National Congress (Congress) coalition government undercharged mobile telephone companies for frequency allocation licenses, which they then used to create 2G spectrum subscriptions for cell phones. The difference between the money collected and that mandated to be collected was estimated by the Comptroller and Auditor General of India at ₹1.76 trillion (US$26 billion), based on 2010 3G and BWA spectrum-auction prices. In a chargesheet filed on 2 April 2011 by the Central Bureau of Investigation (CBI, the investigating agency), the loss was pegged at ₹309845.5 million (US$4.6 billion). In a 19 August 2011 reply to the CBI, the Telecom Regulatory Authority of India (TRAI) said that the government had gained over ₹30 billion (US$440 million) by selling 2G spectrum.Minister of Communications & IT Kapil Sibal said in a 2011 press conference that "zero loss" was incurred by distributing 2G licenses on a first-come-first-served basis.