1. Telcos pay upfront amount in full for spectrum

Telcos pay upfront amount in full for spectrum

All the seven telecom companies have paid the entire upfront money of about R28,872 crore to the government for the spectrum they acquired through auctions held last month.

By: | New Delhi | Published: April 10, 2015 4:09 AM

All the seven telecom companies have paid the entire upfront money of about R28,872 crore to the government for the spectrum they acquired through auctions held last month.

While Reliance Communications and Tata Teleservices have deposited their respective upfront amount on Wednesday the other five telecom companies — Bharti Airtel, Vodafone, Idea Cellular,  Reliance Jio Infocomm and Aircel — submitted their final upfront payment on Thursday, the deadline fixed by the government.

According to the department of telecommunications, the telcos on Thursday paid the remaining R18,064 crore upfront money, while they had paid R10,808 crore on March 31, following an appeal by the Centre to atleast partly pay the upfront amount as that would help the government meet its fiscal deficit target of 4.1% for 2014-15.

Many successful spectrum bidders had paid about R10,808 crore towards upfront payments till March 31.

As per DoT, the upfront payment due to Bharti Airtel was R7,832.20 crore; Vodafone (R6,817.23 crore); Idea Cellular (R7,772.2 crore); Reliance Jio (R2,591.76 crore), Tata Teleservices (R2,013.33 crore), RCom (R1,104.09 crore) and Aircel (R742.5 crore).

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