« Apple Rejects 'Memory' Games From App Store
Gmail Search feature updated. Searching through size, data added »

2G Spectrum Auction Flops Miserably

|November 15 2012 |Industry News


The much awaited 2G mobile phone spectrum auction ended in a miserable flop. Only 9,407 crore was rallied in the process, which is far below the expectation of the report submitted by CAG to the telecom minister two years ago.

mobile-phone-driving

The auction was completed within two days. The total bids amounted to Rs 9,407.64 crore. The Telecom minister Kapil Sibal informed the press at the end of the bidding, which was a distant cry from the 35-day bidding for the 3G spectrum in 2010 that fetched round about Rs 67,719 crore. The government's target was a minimum of Rs 28,000 crore from the sale of 2G spectrum in the GSM band.

Sibal declined to comment on the Cag’s estimate of Rs 1.76 lakh crore as the loss to the coffers in giving away spectrum on first-come- first-serve basis in 2008.

None of the 5 companies bidding made any offer for pan-India air waves. Metro cities of Delhi and Mumbai accounted for 40% of the base price of Rs 14,000 crore for 5MHz of 2G spectrum, which again drew no bids.


Subscribe to our newsletter
GO
Follow Us

Popular Reviews

  • Putting the Lenovo Moto G4 Plus through our review grind
    Putting the Lenovo Moto G4 Plus through our review grind
    We take a comprehensive look at the first Moto smartphone to carry Lenovo branding
  • OPPO F1 Plus vs iPhone 6s vs Nexus 6P: fastest fingerprint first
    OPPO F1 Plus vs iPhone 6s vs Nexus 6P: fastest fingerprint first
    We compared the fingerprint sensors on these phones to spot the fastest and got the results on tape as proof
  • Xiaomi Redmi Note 3 vs Lenovo ZUK Z1 vs LeEco Le 1s Eco vs MEIZU m3 note
    Xiaomi Redmi Note 3 vs Lenovo ZUK Z1 vs LeEco Le 1s Eco vs MEIZU m3 note
    Wondering which smartphone to go for in the VFM segment? You're at the right place
Top Mobiles