First round of auction for 3G spectrum completed, government hopes to earn more than 35 thousand crores
merisarkar news service
New Delhi, April 09, 2010
Govt hopes to earn Rs. 35,000 crores from 3G auction
The auction of the spectrum for the third generation mobile services is expected to fetch a whopping amount of US$ 8 billion or Rs. 35,300 crore to the Government of India.
The much delayed and much controversial auction process finally started on Friday. A follow-on auction for broadband wireless spectrum is expected to take place soon.
Indian and multi national cellular companies are bidding billions of dollars to grab a pie of the coveted spectrum.
Official sources in the department of telecom told the media that the auction for 22 circles across the country has started.
Bharti Airtel, Vodafone Essar, Reliance, Tata Tele Services, Idea and Aircel have bid for all India operations. In all there are 9 companies in the fray for 3-4 slots each.
