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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World India to launch probe into telecoms graft AFP - Monday, February 21 Send IM Story Print India to launch probe into telecoms graft NEW DELHI (AFP) - – The Indian government is to concede to opposition demands for a cross-party probe into an alleged telecoms fraud that cost the nation up to $40 billion in lost revenue, lawmakers said on Sunday. Opposition parties wrecked the last parliamentary session of 2010 by holding protests every day demanding the investigation and refusing to allow any legislation to be debated or passed. The government's move, which is likely to be officially announced on Tuesday, means the new parliamentary session starting on Monday should open without protest. The budget is due to be presented on February 28. "Government has agreed on the JPC (joint parliamentary committee)," Communist Party of India leader Gurudas Dasgupta told reporters after an all-party meeting on Sunday. The Congress-led government had refused to allow the probe for months, saying that other independent investigations were underway, but pressure has been growing on Prime Minister Manmohan Singh over the graft allegations. Former telecoms minister A. Raja, who has been arrested, is suspected of rigging rules to favour certain companies bidding for second-generation (2G) mobile licences, causing a potential loss to the treasury of up to $40 billion. The valuable deals were sold on a first-come, first-served basis instead of via auction. Police suspect Raja and other top government officials colluded with firms -- many of which were ineligible to bid -- in selling the licences at bargain prices and are seeking to determine whether kickbacks were paid. The 2G scandal and widespread corruption allegations stemming from the over-budget Delhi Commonwealth Games in October have shaken the government as public impatience with official corruption mounts. Singh last week vowed to punish all corrupt officials regardless of their seniority. "I am looking forward to a fruitful and productive session of parliament," he said on Sunday after the meeting. Recommend Send IM Story Print Related Articles RPT-BHP CEO sees high iron ore price for up to 2 years Reuters - 42 minutes ago US-BUSINESS Summary Reuters - 1 hour 14 minutes ago Corporate America's economic outlook Reuters - 1 hour 14 minutes ago TEXT-NZ'S PGG Wrightson says not to get second takeover bid Reuters - 1 hour 20 minutes ago Movie audiences discover 'Unknown' at box offices Reuters - 1 hour 57 minutes ago News Search Top Stories Planet could be 'unrecognizable' by 2050, experts say Oral sex linked to cancer risk Lawmakers downplay risk of US government shutdown Iceland president calls referendum on new Icesave deal Huge police presence blocks large demos in Tehran More Top Stories » ADVERTISEMENT Most Popular Most Viewed Mourinho home joy as Real close gap on Barca Britain's Fergie 'not invited to royal wedding' Lawmakers downplay risk of US government shutdown Global warming could spur toxic algae, bacteria in seas More Libya fighting amid fears of 'catastrophe' More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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