Government's proceeds from the spectrum auction today crossed Rs 1 lakh crore mark as aggressive bidding took place across all bands on the eighth day of the biggest sale of 2G and 3G airwaves.
The amount is expected to rise further as there is spectrum which is yet to be sold. The auction will continue tomorrow. So far, over 86 per cent of the spectrum has been provisionally allocated to bidders.
Upbeat at the positive outcome of the bidding for the airwaves, Telecom Minister Ravi Shankar Prasad told PTI: "It is a matter of great assurance for us to know that the bid amount today crossed 1 lakh crore plus closing at Rs 1,02,000 crore."
The Department of Telecom (DoT) said at the end of 49 rounds, bids grew to over Rs 1 lakh crore.
"There is aggressive bidding going on in all bands i.e. 2100 MHz, 1800 MHz, 900 MHz and 800 MHz bands. At the end of 49th round, over 86 per cent of the spectrum has been provisionally allocated to bidders at a value of approximately Rs 1,02,000 crore," the DoT said.
The government will not release results of the auction as a case in pending before the Supreme Court. The next hearing on the case is on March 26.
A total of 380.75 MHz of spectrum is on offer in the premium 900 MHz band, 1,800 MHz and 800 MHz, while 5 MHz is up for bidding in the 2,100 MHz band across 17 out of 22 telecom areas or circles in the country.
Most of the spectrum put up for auction is at present held by Airtel, Vodafone, Idea and Reliance Telecom. Their licences are expiring in 2015-16. Licences for 9 circles of Idea Cellular, 6 circles of Airtel and 7 circles each of Vodafone and Reliance Telecom are coming up for renewal.
According to a research report by Barclays, the spectrum payments by telecom operators will have a limited impact on their balance sheets in near term as the payments are on a deferred basis.
The 3G and BWA auction together fetched the government over Rs 1.05 lakh crore in 2010. The government had raked in Rs 62,162 crore from the last spectrum auction held in February 2014.
Source:http://economictimes.indiatimes.com...crore-mark/articleshow/46545100.cms?prtpage=1
Likely to cross 1.1 Lakh crore or 1.1 trillion Rupees.
The amount is expected to rise further as there is spectrum which is yet to be sold. The auction will continue tomorrow. So far, over 86 per cent of the spectrum has been provisionally allocated to bidders.
Upbeat at the positive outcome of the bidding for the airwaves, Telecom Minister Ravi Shankar Prasad told PTI: "It is a matter of great assurance for us to know that the bid amount today crossed 1 lakh crore plus closing at Rs 1,02,000 crore."
The Department of Telecom (DoT) said at the end of 49 rounds, bids grew to over Rs 1 lakh crore.
"There is aggressive bidding going on in all bands i.e. 2100 MHz, 1800 MHz, 900 MHz and 800 MHz bands. At the end of 49th round, over 86 per cent of the spectrum has been provisionally allocated to bidders at a value of approximately Rs 1,02,000 crore," the DoT said.
The government will not release results of the auction as a case in pending before the Supreme Court. The next hearing on the case is on March 26.
A total of 380.75 MHz of spectrum is on offer in the premium 900 MHz band, 1,800 MHz and 800 MHz, while 5 MHz is up for bidding in the 2,100 MHz band across 17 out of 22 telecom areas or circles in the country.
Most of the spectrum put up for auction is at present held by Airtel, Vodafone, Idea and Reliance Telecom. Their licences are expiring in 2015-16. Licences for 9 circles of Idea Cellular, 6 circles of Airtel and 7 circles each of Vodafone and Reliance Telecom are coming up for renewal.
According to a research report by Barclays, the spectrum payments by telecom operators will have a limited impact on their balance sheets in near term as the payments are on a deferred basis.
The 3G and BWA auction together fetched the government over Rs 1.05 lakh crore in 2010. The government had raked in Rs 62,162 crore from the last spectrum auction held in February 2014.
Source:http://economictimes.indiatimes.com...crore-mark/articleshow/46545100.cms?prtpage=1
Likely to cross 1.1 Lakh crore or 1.1 trillion Rupees.
