The Janata Party President, speaking at Moneylife
Foundation’s second anniversary program, explained why everyone should
be bothered about corruption“Corruption is the reason behind inflation. Loss to the exchequer means loss for the people, and results into misplaced priorities,” said Dr Subramanian Swamy, President of Janata Party. He was speaking on the occasion of the second anniversary of Moneylife Foundation.
Dr Swamy said how the encouragement to corrupt practices have dealt a blow to the country and its people. He said, “The 2G scam is probably the biggest we have seen, which the CAG estimates has led to a loss of Rs1.76 lakh crore. We would have a big part of our budget taken care of if we had that money.”
The Janata Party President said that the then Telecom Minister A Raja’s aim was to favour Unitech and Swan, two real estate companies, which had neither any experience nor any infrastructure in place in the telecom sector. “What made it worse was that Raja made the rule that even before rolling out their services, the companies can go for share dilution. Subsequently, many companies, including Swan (to UAE’s Etisalat), Unitech (to Norway’s Telenot) and Tata (to Japanes DoCoMo), all sold their stakes at eight to 30 times the price of purchase. If they can do it, what stops the government from doing so and recover the money,” Dr Swamy said.
