The CAG today said it stood by its report on 2G spectrum allocation, brushing aside Telecom Minister Kapil Sibal's contention that the auditor's projection of Rs 1.76 lakh crore as presumptive loss was "utterly erroneous".
"The CAG (Comptroller and Auditor General) stands by its report on 2G spectrum 100 per cent," the CAG spokesperson told reporters.
In its report tabled in Parliament in November 2010, the government auditor had pegged a loss of Rs 1.76 lakh crore to the exchequer on account of allocation of 2G spectrum based on 2001 prices.