RBI governor Subbarao says he felt 2G spectrum price was too low in 2007
19 Nov 2012
Deposing in a Delhi court as a prosecution witness in the 2G spectrum case, RBI governor D Subbarao today said he had, in 2007, questioned the pan-India spectrum fee of Rs1,600 crore.
Subbarao, who was finance secretary between April 2007 and September 2008, however, said there was no actual loss to the exchequer in the auction when A Raja was the telecom minister.
Subbarao told the court that he had, on 22 November 2007, written a letter to the then telecom secretary D S Mathur in which he had questioned the spectrum fee of around Rs1,600 crore for pan India licence.
Subbrao said he had also questioned the merit of keeping 2001 spectrum fee of Rs1,600 crore unchanged in 2007 as well.
"I also questioned how the rate of Rs1,600 crore, determined as far as back as in 2001, could be applied for licences given in 2007," he told special CBI judge O P Saini.
The court had, till 11 November, recorded statements of 77 CBI witnesses in the case in which Raja is the key accused.
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