The principal Opposition also insisted that only 22 of the 122 cancelled 2G licenses have been auctioned and their bidding has been much higher than the 2007 collection done on first-come-first-serve basis.

In a scathing attack on the government on the 2G spectrum auction issue, BJP on Friday said low bidding has vindicated the CAG stand that not going for auctions in 2008 had led to a huge loss.

It said the wrong policies of UPA were to be blamed for low collections.

“This must be the first government of the world which is celebrating its defeat. The auction for 2G which did not yield the desired amount is failure of the UPA government. But instead of accepting its own follies it is blaming the CAG, CVC, the Supreme Court and everybody else,” BJP spokesperson Prakash Javadekar said.

Rising to the defence of the CAG, BJP said the attack on him by the UPA ministers is part of the same conspiracy to clip its wings by making it a multi—member body.

“CAG had estimated losses for 2007 in his report. Mishandling of the economy by the UPA government in the last five years has deterred several investors... Our Indian investors are now investing abroad,” Mr. Javadekar said.

BJP plans to keep this issue alive and will raise it in the forthcoming Parliament session to put the government on the mat.

Mr. Javadekar said Telecom minister Kapil Sibal should clarify why the government did not go for auction in 2008.

“In five years you have destroyed the whole economic momentum.... To say that lower bidding shows their first come first serve policy is right is a flawed argument,” he said.

The principal Opposition also insisted that only 22 of the 122 cancelled 2G licenses have been auctioned and their bidding has been much higher than the 2007 collection done on first-come-first-serve basis.

“Actually the CAG has been vindicated in this auction,” Mr. Javadekar said.

BJP maintained that 2G spectrum was precious in 2007 and there was great demand for it and hence bidding would have been much higher then if it had been auctioned. It cited the example of the recent auctioning of 3G spectrum which fetched the government a much higher price than it had estimated.

“This government does not want to introspect... It is giving this absurd logic of Harvard and Oxford (apparently referring to ministers who have studied in these institutions) to prove there was no scam,” Mr. Javadekar said.

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