The 2G Spectrum scam has been the cause for unearthing another scam, the sale of VSNL. However it did not catch much attention, since the sale was done nine years back. But now the issues have come in to focus, through the surplus land disposal.
The Videsh Sanchar Nigam Limited, the corporatised government services called Overseas Communications, which was part of the Department of Telecom, was handed over to Tata in 2002 for a paltry sum of Rs.143 crore. At the lowest, including the infrastructure, building, cables etc. it must have a value of Rs. 20,000 crore at least. I was, in fact, a gift to Tata. Later they changed the name of th company as Tata Telecommunications.
The vacant land belonging to VSNL at Delhi, Mumbai(Maharashtra) and Chennai (T.Nadu), coming to 740 plus acre, although not handed over to Tata was actually in control of the latter. The understnding seemed to be that after years, it will eventually come in to the hands of Tatas as a matter of course.
The 2G spectrum scam and the various enquiries connected with the same during the period from 1999 onwards brought this conspiracy in to lime-light.
The NDA as well UPA government were sleeping over the issue. The jolt on the 2G scam made the government to immediately act before the skeletons in the cup-board are exposed.
The government has now made a draft note assessing the value of the 740 and odd acre land to Rs. 6156 crore @ Rs. 8.31 crore an acre. Anybody who knows about the land value in metros like Delhi and Mumbai will tell you that the present assessed value is far below the market rate. However, any sale of this land is certain to bring more skeletons from the cupboard.
Neo-liberalisation and especially privatisation processes are full of such loop holes and corruption. The 20 years of neo-liberalisation process in India, is the blackest period of corruption.