The committee, comprising 30 members - 20 members from the Lok Sabha and 10 from Rajya Sabha - will begin an investigation and will submit its final report by the end of the monsoon session in Parliament.
The committee will have a thorough investigation into the telecom policy, pursued between 1998 and 2009, and both NDA government and UPA government's regimes are included during that period.
Finance Minister Pranab Mukherjee earlier stated that the present Congress led UPA government was never against a JPC probe into the 2G spectrum allotment but was of the view that the matter was being investigated by multiple agencies. A Public Accounts Committee (PAC) investigation is already implemented in the second generation telecom scam.
The Finance Minister, stating about JPC's activity, informed, "The panel will examine policy prescriptions and their interpretation thereafter by successive governments, including decisions of the union cabinet and the consequences thereof, in the allocation and pricing of telecom licenses and spectrum from 1998 to 2009."
What is JPC?
A JPC is appointed either through a motion adopted by one House of Parliament and concurred by the other, or, through communication between the presiding officers of the two Houses - Rajya Sabha and Lok Sabha. The members are either elected by the Houses or nominated by the presiding officers.
If anyone fails to attend the JPC's summon, his/her conduct constitutes a contempt of the House. The JPC can take oral and written evidence or call for documents. JPC's investigation process always is maintained as high confidential.
Four JPC probes have been conducted in India so far. The cases which all have faced JPC probe are - Bofors contract in 1987, Irregularities in Securities and Banking Transactions in the aftermath of the Harshad Mehta scandal in 1992, the market scam in 2001 and pesticide residues in soft drinks, fruit juice and other beverages in 2004.
Only time will disclose the truth behind the 2G spectrum scam for which the nation has experienced a whopping 1.76 lakh crore loss. The JPC probe in the scam will also expose the real face of the culprit.