Cabinet may consider mega spectrum auction plan today

June 22, 2016 07:49

The Union Cabinet is likely to discuss today the mega-spectrum auction plan in which airwaves worth Rs 5.66 lakh crore will be put for sale.

"The Cabinet is likely to take up spectrum auction proposal. The timeline for auction will be prepared after the Cabinet approval," a source said.

Government expects to raise at least Rs 64,000 crore from the auction of about 2300 Mhz of spectrum and Rs 98,995 crore from various levies and services in the telecom sector.

According to sources, the main document of auction, notice inviting application, is likely to be issued by July 1, followed by pre-bid conference on July 6 and bidding from September 1. However, the same has not been officially confirmed.

As per rules approved by inter-ministerial panel, the auction would include sale of most premium 700 Mhz band at a price of Rs 11,485 crore per Mhz. The cost of delivering mobile services in this band is estimated to be around 70 per cent lower than 2100 Mhz band, used for providing 3G services.

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