Ruling out the government appealing against the Supreme Court order cancelling 122 2G licenses,

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Corporate Affairs Minister M Veerappa Moily today said the verdict might hamper telecom investments temporarily but the vibrant sector would bounce back.

"There may be some setback temporarily. But you know the business vibrancy in this country is so good, particularly in telecom sector, it will pick up..," he told reporters here.

He said the government would not go in for appeal against the cancellation of licenses.

"We are not going to appeal. Corporate bodies may go for that.. That may be a different matter.. But we will go as per the decision of the court," he said.

Blaming the NDA government for following the "first-come, first-served policy" in allocation of 2G spectrum, Moily said "UPA-2 during the EGoM presided by Pranabji (Finance Minister Pranab Mukherjee) and I was a member of it we said the policy which was evolved by NDA has to be given up..We get lot of revenue out of open auction.. That is why for 3G (licenses) we are going for an open auction.. This is the decision of UPA govt."

Asked about the government's stand on bailing out cash-starved Air India, he said a "professional management" had to be introduced in civil aviation.

"I am not an Aviation Minister. But one has to do it (bail out Air India/Kingfisher Airlines). We should work for that.. My personal view is that we should introduce professional management in civil aviation. I have also given a note to the Prime Minister on how it can be revamped. It is possible to do it..", Moily said.

"We need to make them survive. Killing is very easy. Taking away the oxygen is very easy. But pumping in the oxygen and making them survive requires multiple solutions. We need to have multiple strategy. We are interested in making these airlines survive, that is the idea..", he said.