Time to rethink regulators like TRAI: Telecom spectrum auction fiasco not its only failure

It is easy – even if correct – to blame the telecom regulator, Trai, for the dismal failure of the just-concluded spectrum auction where just around a third of the quantity of spectrum was sold, and for less than a fifth of the value the government was hoping to get; though telecom minister Ravi Shankar Prasad tried to put on a brave face and say that the final proceeds of Rs 77,815 crore were greater than what the government expected, if that were true, why would the government put Rs 392,000 crore of spectrum on the block?

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