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Cabinet Approves Rs 3,705 Crore Per MHZ As Base Price For 3G Spectrum Auction: Ravi Shankar Prasad

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The Cabinet has fixed the starting price for 3G spectrum auctions at Rs 3,705 crore per MHz, which could net the government a minimum of Rs 17,555 crore. But operators warned that the high starting level could drive up voice and data tariffs.

Winners of the auction, which is slated to start March 4, will have to make an upfront payment of 33% of the final bid amount to the government within 10 days of the close of the bandwidth sale. Rest can be paid after a moratorium of two years in 10 equal instalments.

“The government earned eight times the reserve price it had set for 3G spectrum in 2010,” telecom minister Ravi Shankar Prasad said at a press briefing, indicating the potential from sale of the airwaves typically suited to the surging data demand in the country. Original post at ET Telecom

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