The government would rake in a minimum of over Rs 24,000 crore from the auction of third generation (3G) spectrum on the eighth day as the pan-India licence reached a bid of Rs 6,067.56 crore, up by about 73 per cent from the base price of Rs 3,500 crore.
The government has budgeted in a target of Rs 35,000 crore from the auctions of 3G and broadband wireless access (BWA), out of which Rs 30,000 crore is expected to come from 3G alone. There are three blocks for 3G auction in 17 circles, while in the remaining five circles four blocks of spectrum are available.
“Earlier, I said the auction could fetch Rs 30,000-35,000 crore, but now I am optimistic that it may go up,” Communications and IT Minister A Raja today said at an event. He, however, declined to quantify the rise expected.
The Delhi circle once again emerged as the hottest with bid price going up to Rs 691.20 crore. Mumbai witnessed the second highest bid of Rs 635.38 crore, followed by Tamil Nadu with the bid price crossing Rs 606 crore.