Govt revenues from 3G spectrum bid crosses Rs 37,000 cr
In a remarkable response from the operators, the pan-India bid for 3G spectrum today touched Rs 9,330 crore on the 17th day of auction and the focus will from tomorrow shift to smaller circles.india Updated: Apr 29, 2010 20:49 IST
In a remarkable response from the operators, the pan-India bid for 3G spectrum on Thursday touched Rs 9,330 crore on the 17th day of auction and the focus will from tomorrow shift to smaller circles.
At this price, the government is assured of revenues of Rs 37,688 crore against the budget estimate of Rs 35,000 crore.
"The Activity Requirement will be set to 90 per cent from the current 80," DoT said in an information on its website, which implies that focus of bids would now shift to 'B' and 'C' category circles.
Today, 100 rounds of auction were completed.
Among individual circles, Mumbai crossed the Rs 1,500 crore and the last bid was quoted at Rs 1,506.41 crore followed by Delhi with Rs 1,431.20 crore against the reserve price of Rs 320 crore for both circles.
Earlier in Rajya Sabha, Telecom Minister A Raja said that the auction of 3G spectrum is likely to be completed in the next one or two days.
Nine mobile telephony firms including Bharti, Vodafone, Reliance and Tatas are in the fray for 3-4 slots of 3G spectrum that allows subscribers to download hi-speed data and stream videos on mobile telephones. Radio waves are being auctioned across 22 circles.
Raja had earlier this week stated that the Government may garner around Rs 50,000-Rs 55,000 crore by selling 3G airwaves and Broadband Wireless Access (BWA) spectrum.
The successful bidders would be allotted air waves in September after the spectrum is vacated by the defence forces.