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The Shiv Sena has raked up the Belgaum card to trump the proponents of a separate Vidarbha state out of Maharashtra. The saffron party, which is yet to recover from its successive defeats in the Lok Sabha and state Assembly elections, has already reiterated that it will launch an agitation for an undivided Maharashtra. At the same time, the party dared the Congress-led governments at the Centre and the state to take concrete measures for the inclusion of Belgaum (currently in Karnataka) in Maharashtra. The demand is currently pending in the Supreme Court.
The markets have held on to their gains in the past one hour. The Sensex is quoting at 16,672, up 71 points, and the Nifty is at 4975, up 22 points. The mid-cap and small cap indices are up about a percent each. Metals, consumer durables and realty stocks have surged in morning trades, while the energy and IT space is subdued.
Delay in rainfall is likely to impact crop size and farmers may shift to short-cycle crops like cotton and castor seeds, an industry official said.
The initial public offer (IPO) of Oil India Ltd (OIL), the second-largest state-run oil and gas company, was subscribed 1.27 times on the first day of its opening for subscription today. It is the third-largest IPO this year after NHPC and Adani Power Ltd, which raised around Rs 6,000 crore and Rs 3,000 crore, respectively.
Expansion in manufacturing, services sectors contributed to growth
The IT industry is exiting its worst year ever as global IT spending is all set to decline 5.2 per cent, according to Gartner, Inc, an information technology research and advisory company. However, the IT industry will return to growth in 2010 with IT spending forecast to total $3.3 trillion, a 3.3 per cent increase from 2009.
Technology may just get you love, or so it seems according to a new report from internet security firm Symantec which reveals that more than a third of adults have used the web to flirt. The 45 million active internet users in India have been steadily using the web to socialise with people.
Maytas Infra Ltd, the troubled infrastructure company promoted by the family of Satyam founder B Ramalinga Raju, is making efforts to recover Rs 380 crore inter-corporate debt from Satyam Computer Services, according to Maytas Chairman K Ramalingam.
The Union government has withdrawn four of the six directors appointed by it on the board of Satyam Computer Services Limited. The government has taken this decision following the permission granted by the Company Law Board (CLB) to this effect.
India should not lift ban on the export of non-basmati rice, especially in view of the proposed Food Security Act, as demand under the public distribution system is set to rise, according to the Centre for Environment and Food Security (CEFC).
In contrast to official optimism about recovery in India"s global shipments after September this year, financial services major Citi has estimated 10 per cent contraction in the country"s exports in the current fiscal.
The domestic stainless steel industry has demanded removal of value cap on exports of the alloy with an aim to increase shipments which were hit hard by the global economic crisis.
India"s handicrafts exports contracted 26 per cent in May at $125 million compared to that in the same month last fiscal, but exporters expressed hope that the worst is probably over.
The International Monetary Fund has welcomed the Chinese decision to invest $50 billion in notes issued by IMF which would help in addressing the issues of the global financial crisis in third world countries.
Prime Minister Manmohan Singh today said the country"s economy is even now capable of growing by 8-9 per cent, the same rate as it did before the global financial meltdown set in.
The government has uncollected revenue of over Rs 1.24 lakh crore in respect of corporate and income taxes at the end of 2007-08, a Comptroller and Auditor General of India (CAG) report said.
Business Standard / New Delhi October 07, 2009, 1:12 IST
Succeeding S Ramadorai, N Chandrasekaran today became the Chief Executive Officer and Managing Director of Tata Consultancy Services (TCS), the country"s largest software exporter.
Breaking a long dry spell, Uttarakhand and its nearby areas today received rainfall in the plains and snow in the higher reaches of the Himalayas. Experts said the rains, which came after a dry spell of two months, would auger well for the agriculture sector. Anand Sharma, director the metereological department, said light rains had occurred in areas like Tehri, Mukteshwar and Dehra Dun. “The trend may continue for one more day at least in the Kumaon region,” he said.
At the Bank of America Corp office in Washington, employees are fielding as many as 10 calls a day from Capitol Hill, up from about two a year ago.
Congress today appointed central observers in Maharashtra, Haryana and Arunachal Pradesh, to facilitate election of the party"s chief ministers.
Social networking, dating and mating portals enter even pets" lives.
India and Russia are mulling returning to the rupee-rouble trade arrangement, to end the dependency on the volatile dollar and step up economic interactions.
The insurance sector seems to be the most vulnerable to frauds as companies are losing a whopping over Rs 15,000 crore every year due to exaggerated claims by customers or agents, a survey has found.
Five years after the Naveen Patnaik government was embarassed by the controversy over chromite mining at Tangarpada in Orissa"s Dhenkanal district, the government is now being pressured by opposition parties to order a CBI probe into "illegal" mining and mines lease to industrial houses and individuals.
The Orissa government has decided to introduce e-Registration of land transfer replacing the present system of manual registration.
Former US President Bill Clinton would be leading a trade delegation to Haiti in October, in his capacity as the UN Special Envoy for Haiti.
Though the Congress party had allocated Saifuddin Soz a seven-seater helicopter for campaigning in far-flung areas of Jammu & Kashmir, he chose to use road transport. It was only when someone pointed out that the idle chopper was also costing his party a lot that Soz decided to use it to go to Ladakh.
Two-wheeler and consumer durables loan provider Bajaj Auto Finance today said it would seek shareholders" approval through postal ballot to start mutual funds and finance infrastructure projects.
After receiving encouraging response from private players in developing a 1,320 Mega Watt Rajpura Thermal Power Project, the Punjab State Electricity Board is expecting to issue a Letter of Intent (LoI) to the successful bidder for this project by the end of this month.
The Indian industry is expecting animation and gaming to gradually evolve into a full-fledged career option among youth, according to K Rajesh Rao, chief executive of Bangalore-based game development company Dhruva Interactive.
Software major Wipro today accepted a 50-acre plot at Rajarhat near here for its second campus, two months after Chief Minister Buddhadeb Bhattacharjee stepped in to assure alternative land after scrapping the controversial Kolkata Links IT Township project.
ISRO earned over Rs 100 crore in the last three years by launching satellites of other countries, Minister of State in PMO Prithviraj Chavan told the Lok Sabha today.
The rapid spread of swine flu has hit share prices of top airline and hospitality companies as market players fear a sharp drop in travel and tourism due to the flu scare. In contrast, shares of top pharmaceutical companies have seen a sharp rise during the period.
The country"s second-largest realty firm, Unitech, today said its telecom venture has earmarked a capital expenditure of Rs 10,000 crore for the next three years to roll out its services across the country.
Pending revision of guidelines for setting up special economic zones, the government will continue to approve proposals for new SEZs which would be developed in an environmentally sustainable way.
Suggesting that layoffs in the information technology and business process outsourcing (BPO) industry are still less than 1 per cent of the total workforce, top National Association of Software and Service Companies (Nasscom) executives have said that the industry has not yet come in the grip of large-scale layoffs.
Czech luxury car maker Skoda Auto today reported a 52.05 per cent growth in its sales during December last year at 1,113 units.
If a committee set up under the heavy industries ministry approves a recommendation of the auto industry, the country may soon get a scheme which would incentivise a vehicle buyer for scrapping his old vehicle in exchange .
India"s space agency has in its pipeline eight foreign satellites for launch and is scouting to acquire such spacecraft from abroad to expand capacity in the field of communication transponder back home.
The Haryana Renewable Energy Development Agency (Hareda) has decided to set up three solar power projects of 225 Kw capacity in Gurgaon district under a scheme launched to motivate commercial/industrial establishments to use solar energy, which is environment-friendly.
The word ‘Zero’ is usually a bait to lure gullible buyers.
Construction firm Unity Infraprojects today said its joint venture with IVRCL Infrastructure & Projects has bagged an order worth Rs 1,145.88 crore from Municipal Corporation of Mumbai.
Two Democrat Congressmen today appealed to their colleagues in the US Congress to oppose the Obama Administration"s proposal to fund $108 billion to the International Monetary Fund.
It"ll be a year tomorrow since B Ramalinga Raju"s explosive admission about an accounting fraud at Satyam, but the iconic IT firm that he founded has managed to move on and out of the shadows of the country"s biggest corporate scam.
The Reserve Bank of India (RBI) may signal the end of easy monetary policy by sucking out some liquidity from the market by way of Cash Reserve Ratio (CRR) hike, State Bank of Hyderabad (SBH) managing director Renu Challu today said.
I am 59 years old and wish to retire in February 2010. I want to create a pension fund and also seek regular tax-free returns from mutual funds. I own a house and don"t have any liabilities.
Maytas Properties, which is trying to raise finances for completing its Hill County project, is asking its customers to find investors for the project.
Power and energy storage company Luminous Power Technologies today announced the appointment of Arun Nagpal as Chief Executive Officer of the company.
State-run Bharat Heavy Electrical (BHEL) today said it has set up a new transformer manufacturing facility at Bhopal in Madhya Pradesh.
Business Standard / New Delhi January 28, 2010, 0:16 IST
In response to Pakistan"s announcement that it would begin trials of the suspects held for Mumbai attacks from October 3, Indian External Affairs Minister S M Krishna has said that India would not "monitor" these proceedings.
External Affairs Minister S M Krishna met his Sri Lankan counterpart Rohitha Bogollagama here and discussed the issue of resettlement of over 280,000 internally displaced persons in the island nation.
Railway Minister Mamata Banerjee has taken initiative to ensure that cricket fans in India could watch all Twenty20 ICC World Cup matches in UK which is being telecast on ESPN Star Sports (ESS).
Business Standard / New Delhi July 29, 2009, 0:38 IST
Beijing has threatened to ban import of seafood and other food products from India if New Delhi continues to restrict import of milk products from China, the government informed the Lok Sabha today.
Disgraced former Haryana DGP SPS Rathore today moved the Punjab and Haryana High Court challenging a sessions court order denying him anticipatory bail in two fresh FIRs involving serious criminal charges against him in the Ruchika Girhotra molestation case.
A stress test of the European Union’s biggest banks showed they could withstand an even deeper recession, though with almost 400 billion euros ($581 billion) in losses, according to a report to EU finance chiefs.
Announcing its policy to enter into a dialogue with Myanmar"s military junta, the Obama Administration today said it would actively consult and seek the help of countries like India and China as part of its new Burma policy.
With Volvo, Daimler and Scania gaining a foothold in the over-40-tonne heavy commercial vehicle category, it was time for Indian players to get their act together. “Indian manufacturers were not strong in heavy commercial vehicles because there was not much demand for them. But with exports and infrastructure stirring up, these have received a shot in the arm over the last four to five years,” says PricewaterhouseCoopers Leader (automotive practice) Abdul Majeed.
Amid reports about Mumbai Police Crime Branch Chief Rakesh Maria"s offer to resign if Home Ministry does not clarify allegations levelled against him by Vinita Kamte, the slain IPS officer Ashok Kamte"s widow today said she stands by each and every word in the book written by her.
M J Antony / New Delhi October 21, 2009, 0:30 IST
M J Antony / New Delhi October 14, 2009, 0:01 IST
The Insurance Brokers Association of India (IBAI) today demanded implementation of a mechanism to reduce delays in renewal of licences and dub-bed the recommendations of the Swarup Committee as being “unpractical” and “misconceived”.
Ranibai Rajaram Chhabria, mother of the late Manohar Rajaram Chhabria, has challenged the merger of Shaw Wallace with Vijay Mallya-promoted United Spirits, saying she was entitled to a fifth of her deceased son"s estate.
M J Antony / New Delhi November 25, 2009, 0:06 IST
As governments and NGOs fight on contamination levels, Bhopal gas tragedy victims continue to die a slow death
Sunita Narain / New Delhi November 06, 2009, 0:24 IST
In the wake of the deadly fire that ravaged the Indian Oil Corporation’s (IOC’s) depot in Jaipur, the Madhya Pradesh governemnt has woken up to the realisation that the company’s Bhopal depot is a ‘nuisance’. The state government will soon serve a notice on the company under Section 133 of the CrPC (removal of nuisance).
The board of India Infrastructure Finance Company Ltd (IIFCL) is meeting tomorrow to look at ways to create demand for the Rs 10,000 crore that it had raised earlier this year to refinance highways and port projects. The New Delhi-based financial institution has not received a single proposal for the fund.
Telecom entity Motorola today posted a profit of $26 million for the second quarter ended June 30, 2009, even as revenues plunged.
Leading multiplexes and media companies are queuing up for the theatrical rights to the Indian Premier League (IPL)cricket matches for the coming decade.
Devika Banerji / New Delhi October 27, 2009, 0:37 IST
US President Barack Obama held his first meeting with Russian Prime Minister Vladimir Putin here today and hoped that talks between them would put bilateral relations "on a much stronger basis".
The markets yesterday witnessed typical derivatives expiry session, as stocks and indices swung between zones ahead of settlement. After rallying to a high of 16,525 in morning trades, concerns on higher food inflation and expiry pressure saw the Sensex tumble into red to a low of 16,182. The Sensex finally ended with a marginal (17 points) gain at 16,307.
On account of exhausting mobile phone numbers starting with the digit 9, the Department of Telecommunications has allotted Reliance Communications a new series beginning with the digit 8(055) for its Maharashtra and Goa circle (M&G).
C K Birla group company Hindustan Motors(HM), the makers of the Ambassador car, is all set to launch a niche car in the premium segment.
Karnataka government is planning to issue below poverty line (BPL) ration cards to garment factory workers to enable them procure food grains at subsidised prices, minster for food and civil supplies H Halappa said today.
Chennai-based Kavithalaya Productions, owned by veteran director K Balachander or KB, is in talks with private equity players for its proposed investment plan of Rs 100 crore. Besides, the company is planning to launch a venture capital fund to support upcoming directors in the film industry.
Western studies rubbish the claim of drinking eight glasses of water, Ayurveda emphasises on its goodness
A few students in Hyderabad could not reach the test centres in time to appear for the Common Admission Test (CAT) today, the penultimate day of the computer-based test, due to the bandh call given by the Telangana Rashtra Samithi, a political outfit fighting for a separate statehood for Telanagana.
The third edition of the Indian Premier League, scheduled to begin in March, is under controversy after the Shiv Sena has opposed the participation of Australian cricketers in the domestic Twenty20 event, in the wake of ongoing attacks on Indian nationals Down Under.
BCCI to partner Google India for the venture.
From music to mind games to muscle-building exercises, mobile applications are the key to turn your cellphone into a know-all mate.
Reserve Bank Governor D Subbarao today said the ongoing global crisis has resulted in a massive breakdown of trust in the financial system and that the study of economics could lose its value base.
Commercial vehicle manufacturer Ashok Leyland’s associate company, Ashley Alteams India Pvt Ltd (AAIPL) will commence manufacturing high pressure die castings. The production of the castings, which will primarily be for the telecommunications and automotive sector, will begin next month at the company’s new facility in Chennai.
Early signs of a recovery in demand along with measures to improve profitability at Corus indicate that Tata Steel may bounce back into the black
The government is beginning a review of the administered interest rate structure for small savings schemes and plans to set up a committee headed by a former Reserve Bank of India (RBI) governor to suggest a roadmap for possible decontrol.
Govindraj Ethiraj / Mumbai June 9, 2009, 0:40 IST
Ashish Sinha / New Delhi August 25, 2009, 0:40 IST
The budget is big on rural India and allocations for the Bharat Nirman project, for instance, have been hiked 45 per cent over those allocated in Budget 2008-09 — within this, allocations for projects like the Pradhan Mantri Gram Sadak Yojana have been hiked 59 per cent. While that’s all very well, it would be a good idea to see what’s happening on the government’s plans for connecting rural India, not by roads but by telephones. As compared to urban areas where around 90 per cent of people have phones, tele-density is just around 15 per cent for rural India.
If policy-makers are worried about employment, it is not without good reason. Even though employment growth is rising, labour intensity is falling, suggesting that the growth is not as permanent as you"d like. The usual policy response to this would be to give a boost to traditional labour-intensive industry but, as a paper by Deb Kusum Das, Deepika Wadhwa and Gunajit Kalita (all at ICRIER) brings out, labour intensity levels have gone down quite dramatically in even traditionally labour-intensive industries.
Drug firm Glenmark Pharmaceuticals today said it has raised Rs 413.56 crore through the issue of over 1.87 crore shares to institutional buyers on private placement basis.
State"s contribution had tanked below 20% from 42% in last two years.
Launch one-year management courses to escape AICTE norms
PHD Chambers: No big-ticket reforms
The proposed Global Delivery Centre of BPO (business process outsourcing) firm Genpact in the city, which is already running behind schedule, is set to face further delay.
Packaging solutions provider Bilcare today said it is planning to raise $35 million (about Rs 170 crore) through the issue of securities.
Jewellery fabrication business worldwide is likely to fall in 2009 on high gold prices with offtake forecast to slip by 15 per cent compared to the year-ago period, a latest report says.
Dollar weakness and higher inflation fears are pushing the yellow metal higher
Faces tough competition due to the presence of players such as Blackstone.
Japan Airlines Corp (JAL), restructuring under state supervision, is likely to tap financial institutions for around 170 billion yen in additional loans while considering cutting more than 1,000 jobs through an early retirement program after October, sources said.
In what should come as a huge respite for Common Admission Test (CAT) candidates, the Indian Institutes of Management (IIMs) have hinted that the registration fee for the computer-based test this academic year will not be as high as similar tests like GMAT (Graduate Management Aptitude Test, for admission to business schools overseas).
Moody"s today said there is always a risk of another major event sending shock waves in financial markets, even as Asian stocks may have rebounded from the lows post the collapse of Lehman Brothers last year.
The Orissa government today approved an amendment to the Orissa Development Authority Act and Orissa Town Planning and Improvement Act, reducing the stamp duty in urban areas to 5 percent from 8 percent at present and waiving the collection of additional 3 percent as town area surcharge.
With less than five months left for the proposed roll-out of the Goods and Services Tax (GST), the empowered group of state finance ministers today suggested a model of inter-state goods and services tax (IGST) for inter-state transactions. The Centre would levy GST which would comprise central and state GST, with appropriate provision for consignment or stock transfer of goods and services.
Indian industry is of the view that the proposed Goods and Services Tax (GST) will be beneficial for the economy, but the deadline of April 1, 2010, is not realistic, a leading consulting firm said in its survey.
After voting with sworn political enemy Bharatiya Janata Party (BJP) against its one-time ally, the United Progressive Alliance (UPA) last year, the Left is again considering floor co-ordination with the saffron brigade in Parliament.
The Union government is likely to announce yet another incentive package for labour-intensive export sectors by early December, after a full review of the measures announced earlier.
Shahana Joshi / New Delhi November 11, 2009, 0:34 IST
Has capital requirement of Rs 50,000 cr over the next five years.
Asian markets ended weak. The Hang Seng closed down 234 points at 20,121 and the Nikkei dropped 216 points to 10,198.
Steel producers facing pricing pressure are alleging that importers are circumventing import licensing requirements for hot-rolled (HR) products, which are included in the restricted list according to a Directorate General of Foreign Trade (DGFT) notification in November 2008.
The Institute of Management Technology (IMT) Dubai is one of the few Indian business schools to have got an approval from the UAE’s ministry of higher education and scientific research to offer an accredited MBA programme and executive education to companies operating in the UAE. IMT Dubai’s director Farhad Rad – Serecht told Kirtika Suneja how the institute plans to remain different from other B-schools. Edited excerpts
The Tamil Nadu government has sought an additional Rs 461 crore from the railway ministry for speedy completion of projects in the state.
Modernisation of SMEs will be the focus of discussion with the new govt
Uttar Pradesh Inc has demanded the stamp duty on registration of industrial plots be charged on sale cost/premium lease basis and not on market value/circle rate of the land as notified recently.
The initial public offer (IPO) of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer today, the opening day.
State-owned Hydroelectric giant NHPC, a mini ratna unit, would add 4,622 Mw of hydel power by 2012, a top company official said today.
Eyeing the scope among small and medium enterprises (SMEs) as well as big firms in Gujarat, workforce management solutions provider Kronos is in talks with manufacturing, pharma, ports and logistics firms in the state for its next version solution "Workforce Central Suite 6.2"
Software giant Microsoft"s representatives will soon meet Finance Ministry officials trying to persuade them to impose excise or countervailing duty instead of service tax on packaged software.
BEML Limited, a Mini Ranta Category-I Public Sector under the Ministry of Defence and Steel Authority of India, a Navaratna Company under the Ministry of Steel have signed a Memorandum of Understanding for supply of stainless steel.
The pilot project initiated by Indian Railways in December 2008 to transport cars on rail has been commercialised and will be extended to other parts of the country.
The Board for Industrial and Financial Reconstruction ruling in the case of INCAB has gone in favour of Tata Steel, a company release said.
Jagdish Bhagwati / New Delhi September 16, 2009, 0:34 IST
Even as the small and medium enterprises (SMEs) in Gujarat look to increase their technology adaptability, IBM has forayed with its market specific products in hardware, software and security services, among other things. With an increasing need for data storage and security among SMEs, IBM is expanding its footprint in the state by offering products like Scalable Modular Server Rooms (SMSR) and Cognos Express, apart from other services.
Small and medium enterprises (SMEs) have just got a reason to celebrate. The Union Minister for Information Technology and Communications, A Raja, said last week that his ministry had recommended to the Union Cabinet and the Finance Ministry that the tax rebate currently applicable to Software Technology Parks of India (STPI) should be extended beyond 31 March 2010.
For promotion of good design practices in country, Indian Design Council (IDC) is likely to come out with design certification mark called "I-Mark" for industry, as a seperate recognition mark for design, an IDC member said here today.
J K Lakshmi Cement will invest about Rs 1,600 crore over the next three years on expansion, which includes setting up of a 2.7 million tonnes greenfield manufacturing plant in Chhattisgarh.
Branson: Richard Branson is making headlines on three continents. The serial entrepreneur is selling Virgin Mobile USA to partner Sprint-Nextel well below its IPO price. But his latest mediocre performance in the US isn’t stopping him elsewhere. Abu Dhabi is ponying up money for his loopy spaceship venture and his Aussie airline Virgin Blue is planning a rights issue. Branson"s record doesn"t give investors any certainty.
Oil India Ltd (OIL) the nation’s second-largest state-run explorer, may hit the market with an initial public offering (IPO) on September 7.
JD-U and SP today came together in the Lok Sabha to accuse the government of trying to help some big exporters by allowing rice exports during the time of drought and alleged that it was "big scam".
Vedanta Resources Chairman Anil Agarwal today said he is ready with Rs 8,000 crore for buying the government’s residual equity in Balco and Hindustan Zinc, for which he will meet the finance minister this month.
Largest such issue in two years; equity dilution pulls down firm’s domestic stock 6 per cent
Thanks to a robust second quarter growth of the Chinese economy, the hopes of a global recovery led by Asia seems to be gaining momentum.
Healthy demand outlook and partial improvement in prices have perked up sentiment towards cement stocks.
Shree Cement today reported a 22.4 per cent increase in sales in December of 8.58 lakh tonnes.
The Business Process Outsourcing (BPO) sectors of India and the Philippines are joining hands to combat protectionism from European Union nations and the US, and to increase cooperation between both nations which traditionally have been competitors as ‘low-cost’ outsourcing destinations.
Realisation improves as national cement prices rise by Rs 90 since 2005-06.
The government today ruled out any possibility of rolling back the incentives given to the export sector saying the country has yet to fully recover from the impact of the global financial meltdown.
The government today said there would be no restriction on export of iron ore, as there is surplus of the mineral in the country even after its export.
JSW Energy plans to hit the capital markets in the third week of October to raise around Rs 3,000 crore by diluting 10 per cent equity stake.
The Planning Commission approved the annual plan outlay for Uttarakhand for the year 2009-10 at Rs 5,574.7 crore.
Markets extend losses in noon trades
Former BCCI President Raj Singh Dungarpur passes away.
Shobhana Subramanian / Mumbai September 11, 2009, 0:02 IST
Back in prehistory, that is, about three decades ago, when Kolkata thoroughly drowned in the monsoon deluge, we looked forward to sarat or autumn. The rains would be gone, the heat would be a bit less though the oppressive humidity would still be around, but that’s not what mattered. The special part was the sky at dusk. The grey of the monsoon clouds, still lingering, would be tinted pink and purple by the setting sun and create a riot of colours. And through this sky would pass large flocks of birds in a V formation.
Jaypee Group firm Jaiprakash (JP) Associates today said it will invest Rs 4,500 crore to take its cement manufacturing capacity from 20 million tonnes per annum (mtpa) to 33 mtpa by 2012.
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Pandemics are global, but political calculation to confront them is decidedly local.
The Opposition on Thursday lambasted the telecom ministry, alleging that the 2G spectrum allocation to mobile operators resulted in a loss Rs 60,000 crore to the exchequer, a charge rejected by the government. Leader of Opposition Arun Jaitley said in the Rajya Sabha that the difference in the valuation of spectrum awarded by the government in 2007 to private players and the value realised in transaction with foreign companies in each case had been minimum Rs 6,000-7,000 crore.