Spectrum proceeds hit Rs 1 lakh cr

Jun 09, 2010 - Age Correspondent |

New Delhi

The revenue from the auctions of spectrum on Tuesday crossed the Rs 1 lakh crore-mark. The success of auctions of 3G and wireless broadband (BWA) spectrum has crossed government estimates, which intially stood at Rs 35,000 crore.

The government has already pocketed Rs 67,719 crore from the auction of 3G spectrum. The total expected proceeds from the BWA auction crossed Rs 34,553 crore. Together, the sale of 3G and BWA spectrum would fill government coffers with over Rs 1 lakh crore.
The price of a single pan-India BWA on Tuesday reached Rs 11,517 crore. This price is 558 per cent more than Rs 1,750 crore from which the BWA auction had started. This means that the government will get Rs 34,553 crore from the BWA auction.
There is still excess demand for seven circles. Till now 102 rounds of BWA bidding have been completed.
There are 11 players in race for two blocks of 20 MHz of spectrum which is on sale.

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