Breaking News

You are here » Indian-Commodity  :  Economy  :  EGoM on Dec 7 to decide reserve price for unsold telecom spectrum

07-Dec2012

EGoM on Dec 7 to decide reserve price for unsold telecom spectrum

To discuss a roadmap for spectrum that remained unsold in the recent auction, the Empowered Group of Ministers (EGoM) on telecom chaired by Finance Minister P Chidambaram is expected to hold a meeting on December 7, 2012. The meeting, which has been deferred twice since last month, is expected to discuss a roadmap for auction of unsold GSM spectrum in Delhi, Mumbai, Rajasthan and Karnataka.

The EGoM will take decision on the reserve price that should be fixed for auction. It also has to decide on CDMA spectrum, which saw no participants due to the high reserve price. The spectrum was left unsold after government was able to auction only a part of the lot. Auction bid for GSM spectrum attracted bids worth only Rs 9,407 crore which is too low as against the minimum expected amount of Rs 28,000 crore.

However, the high-powered EGoM panel, headed by Finance Minister will also take a final call on Department of Telecommunications' (DoT) plan to conduct auction of 900 MHz bands in Delhi, Mumbai and Kolkata region along with 1,800 MHz bands. The proposal to auction 900 Mhz band was suggested after recognizing that the band requires less number of telecom towers as compared to that in 1800 Mhz band.


Related News

View all news

Near-term growth prospects remain favourable in India: IMF

International Monetary Fund (IMF) in its report 'Global prospects and policy challenges', meant for the G20 meeting of finance ministers in Ankara has stated that near-term growth prospects remain favourable......

Government accepts recommendations of A P Shah panel

Amid the market slump and exodus of the foreign funds from the country, the government giving much needed relief has accepted the recommendations of A P Shah-led panel that minimum alternate tax (MAT)......

RBI governor finally buzzes to the demand, hints at rate cut

Reserve Bank of India (RBI) Governor Raghuram Rajan finally hinting for a rate cut has said that inflation has come down to the comfort zone quicker than expected and he is keeping a watch on......

Top News

View all news

Lupin, Tata Steel, Cipla and NBCC to see some action today

Lupin Pharmaceuticals, a subsidiary of Lupin, has launched its Duloxetine 40 mg Delayed-Release (DR) Capsule, which is the first and only generic Duloxetine formulation to become available in 40 mg dosage......

Near-term growth prospects remain favourable in India: IMF

International Monetary Fund (IMF) in its report 'Global prospects and policy challenges', meant for the G20 meeting of finance ministers in Ankara has stated that near-term growth prospects remain favourable......

HDFC Bank, ITC, Infosys and Syngene International to see some action

HDFC Bank, India's second largest private bank, cut its base rate by 35 basis points to 9.35%, from the existing 9.70 percent, thereby making loans from the bank cheaper. Earlier in June, the bank had......