Spectrum auction may fetch over `1 lakh cr
With telecom operators depositing a huge Rs 20,435 crore as earnest money for spectrum auction, government is set to garner over Rs 1 lakh crore from sale of radiowaves, after generating similar amount through sale of coal blocks.
For the entire amount of spectrum put on auction, an earnest money deposit (EMD) of Rs 12,000 crore could have been enough but telecom operators have deposited Rs 20,435 crore, which shows that fierce bidding is likely in the auction, official sources said.
"The EMD amount, which is the highest so far, shows that there is high demand of spectrum and we are looking forward to a successful spectrum auction," a Department of Telecom official said.
Based on the reserve price, the government estimated to garner over Rs 82,000 crore from the sale of radiowaves for providing 2G as well as 3G services. At the minimum or auction start price for the 2,100 Mega-Hertz band or 3G spectrum, government would garner at least Rs 17,555 crore.
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