'2G spectrum auction on Monday'

Nov 11 2012, 18:06 IST
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The government will begin tomorrow the auction for telecom spectrum through which it is hoping to meet Rs 40,000 crore revenue target. (Reuters) The government will begin tomorrow the auction for telecom spectrum through which it is hoping to meet Rs 40,000 crore revenue target. (Reuters)
SummaryThe govt is hoping to meet Rs 40,000 crore revenue target through auction for telecom spectrum.

spectrum that is being put up and the overall structure, it is not going to be a very successful auction.

"We don't expect the auction to meet any of the objectives that the government has set, so overall if you use that as the criteria, clearly it's not a very successful auction," he said.

At the end of the auction, companies will have the option to pay either full amount of 33 per cent of final price by December 25.

The final auction price will then determine the amount that government will get from one-time levy on spectrum held by existing operators beyond 4.4 Mhz.

The government expects to garner Rs 31,000 crore from this one-time levy throughout the validity period of existing licences. The major portion of the estimates include price calculation based on reserve price.

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