360° Coverage : Cabinet finalises reserve price of 1800 Mhz spectrum

Cabinet finalises reserve price of 1800 Mhz spectrum

New Delhi, Dec 13 (IANS) The union cabinet Thursday approved the reserve price of 1800 mega hertz (Mhz) spectrum for four circles as recommended by an Empowered Group of Ministers (EGoM) earlier.

Dec 13 2012, 12:06pm CST | by

Cabinet finalises reserve price of 1800 Mhz spectrum
Photo Credit: SAJJAD HUSSAIN, Getty Images

New Delhi, Dec 13 — The union cabinet Thursday approved the reserve price of 1800 mega hertz (Mhz) spectrum for four circles as recommended by an Empowered Group of Ministers (EGoM) earlier.

"The decisions are expected to result in further efficient utilisation of the scarce natural resource of spectrum, facilitating proliferation of telecom services in the country," said an official release.

An inter-ministerial group on Dec 7 recommended 30 percent reduction for four circles - Delhi, Mumbai, Karnataka and Rajasthan - which were left unsold in the auction conducted last month.

The Empowered Group of Ministers also decided to auction spectrum of 900 Mhz in Delhi, Mumbai and Kolkata with the sale of 1,800 Mhz.

Last month's 2G spectrum auction only garnered Rs.9,407 crore from a minimum expected Rs.28,000 crore target.

The reason, industry said, was the high reserve price fixed by the government.

In the last auction, the reserve price for the four unsold circles for 1,800 Mhz was Rs.693.06 crore for Delhi, followed by Rs.678.45 crore for Mumbai, Rs.330.12 crore for Karnataka and Rs.67.08 crore for Rajasthan circle.

IANS

 
 
 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

NASDAQ is Back at 2000 Dot-Com Bubble Level
NASDAQ is Back at 2000 Dot-Com Bubble Level
The Dot-Com force is back at the NASDAQ. It took Silicon Valley 15 years to bring back the NASDAQ to the Dot-Com Bubble Levels. With startup valuations in the billions becoming the norm, Wall Street is following up with driving up the value of public traded tech companies.
 
 
Bill Gates Tops Forbes Billionaires List Again
Bill Gates Tops Forbes Billionaires List Again
Microsoft co-founder Bill Gates is back on top of the Forbes Billionaires list.
 
 
$75,000 Apple Watch revealed
$75,000 Apple Watch revealed
When Apple's designs are not exclusive enough then there are 3rd parties who add gold and diamonds to the iGadget to make them precious. Brikk announced the Lux Watch, a diamond studded version of the Apple Watch.
 
 
Sony will not Sell Off TV And Mobile Spinoffs
Sony will not Sell Off TV And Mobile Spinoffs
Sony President Kazuo Hirai clarified on Wednesday that the company will not immediately sell off the spun out TV and mobile phone business.