One possible explanation for the flop is that govt wanted a flop. The current exercise is being carried out simply because the SC wanted it. The govt had no heart in it. And this is govt's way of showing the middle finger to the SC.
Manmohan Singh is quite capable of doing this. The more I think about it, the more I think the flop is by design.
The wily fox Kapil Sibal has done it for the Congress, but screwed it for the country.
When you price 800 MHz at 30% higher than 1,800 MHz spectrum, and limit the auction to only select circles, you are clearly headed for disaster. Was Sibal and gang trying to prove that the figure of $1.76 lakh crores were grossly incorrect? The number is firmly etched in public memory, whatever be the outcome. Now, wait till the paucity of revenues makes the fiscal deficit worse.
Where is the CAG's accountability for pulling numbers out of his hat? His sole job seems to be to determine how many zeroes to add to the flight of fancy reports his department churns out
Oh please wait, Vinod Rai's papa is coming with a 1 lakh crore bid!
The govt estimated 40000 crores and is going to get a lot less. They are not able to get a single estimate correctly. They screw up on the job numbers, inflation, growth rate etc etc. Govt projection is almost always wrong.
And yet I am amazed to see people believe in claims about FDI in retail-that so many lakh job will be created. The govt projection figures alone should give one a pause.