Finance Minister Arun Jaitley today asked the Congress not to treat the verdict in 2G case as some kind of 'badge of honour', asserting that the auction policy was designed to promote corruption and the investigating agency would have a close look at it. "The policy was arbitrary and designed to promote corruption. It was implemented in an unfair manner. It was causing loss of revenue to the government and the subsequent auctioning was getting much higher price, " the Finance Minister said reacting to the judgment by the special CBI court in which all the accused were acquitted.
Commenting on the political aspect of the case, the finance minister said, "The congress party leaders are treating this judgment as some kind of 'badge of honour' and a certification that the 2G allocation policy was an honest policy."
Recollecting 2G spectrum auction history, he said, "In the year 2007-08, spectrum was given not by an auction, nor by a market mechanism determining the price of 2007-08. But on basis on the price discovery made in 2001, the spectrum value was fixed at Rs 1,734 crore per licensee.
'Even within the policy implementation, there was a huge element of arbitrariness. The cut-off date was advanced, the first come and first serve policy was intended to serve a select few. And even this policy was arbitrarily changed and converted into first come and first pay policy. Moreover, the chosen few were informed in advance about the change in policy," he said.
In February 2012, the apex court had quashed the first come and first serve or first come and first pay policy and directed the government to have a fresh policy by which an auction would take place.