CBI chief pegs 2G scam loss at Rs50,000 crore

The government seems to be cutting a very sorry figure as more details of the 2G scam come into the open.

The Times of India reported that CBI director A P Singh testified before the Parliament's Public Accounts Committee (PAC), that the loss to the government could be pegged to around Rs50,000 crore, thus effectively refuting government's "Zero-loss" claim.

The CBI chief was asked to put a figure to the loss by the PAC chairman and senior BJP leader Dr Murli Manohar Joshi.

However, a more accurate figure, that could be on either side of the quoted figure would be known only after the agency concludes its investigations.

With the CBI too throwing out the zero loss claim, political analysts say the efforts to soft pedal the scam and project it as one of procedural irregularities are bound to suffer.

In addition to the revenue loss, PAC members sought to know why the agency waited for directions of the Supreme Court to launch a probe into the scam.