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CAG report finds that six telecom companies under-reported revenue

March 09, 2016
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The Comptroller and Auditor General (CAG) has said that six major telecom companies, including Reliance Communications, Tata, Bharti Airtel, Vodafone, Idea Cellular and Aircel, understated gross revenue of over Rs 460 billion between 2006-07 to 2009-10. This led to a loss of more than Rs 124 billion to the government exchequer. This under-reporting of revenue has been calculated on the basis of actual earnings of telecom companies during the aforementioned period unlike the methodology followed in the 2G spectrum case, where computation of losses was based on presumptive policy flaws.

The CAG had been denied the authority to audit the finances of telecom companies since 209 after telecom operators challenged its mandate in various courts. However, the Supreme Court had settled the matter in April 2014 by granting CAG the right to audit the accounts of telecom companies.

 
 
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