Cabinet Okays Largest Ever Spectrum Auction, To Get Rs 64840 Cr New Delhi: The Union Cabinet today approved the largest ever telecom spectrum auction that is targeted to fetch at least Rs 64,840 crore from the sale next month. The government will sell 380.75 megahertz of second generation (2G) spectrum in three bands -- the premium 900 MHz, 1800 MHz and 800 MHz. Spectrum in 2100 MHz may also be put on auction simultaneously after Defence Ministry vacates it. The Cabinet, headed by Prime Minister Narendra Modi, approved a reserve price of Rs 3646 crore pan- India per MHz in 800 MHz, Rs 3980 crore for 900 MHz band pan India excluding Delhi, Mumbai, Kolkata, and J&K; Rs 2191 crore pan India (excluding Maharashtra and West Bengal) in 1800 MHz band, an official statement said here today. Reserve price for 2,100 MHz was not announced today. Government had garnered about Rs 62,162 crore from the last auction in February 2014. Proceeds from this years auction will help government reach its fiscal deficit target of 4.1 per cent of GDP.
Posted on: Tue, 06 Jan 2015 02:02:12 +0000
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