TNI Bureau: After the much-awaited 2G spectrum remained a flop show in the recent auction, Union Telecom Minister Kapil Sibal defended the government on 2G scam, hitting out at the CAG and questioned on the process of auditing and calculations.

Addressing a press conference a day after the 2G spectrum auction failed to collect the government’s target of Rs 40,000 crore, Sibal said that another auction will be held before March 31, 2013. He said that the government will discuss and monitor the situation how to move forward.

On Wednesday, the government managed to fetch only Rs 9,407 crore, which is a huge blow to the Centre. Even, Sibal admitted that the auction was much less than the reserve price of Rs 28,000 crore fixed by the ministry.

Earlier, Information & Broadcasting Minister and Congress spokesperson Manish Tewari on Thursday had lashed out at the CAG for the report of 1.76 lakh crore loss that resulted in the arrest of some politicians like A Raja, bureaucrats and businessmen.

While, opposition parties have been talking tough against the UPA, the government said that the CAG report of loss of 1.76 lakh crore loss was a myth.