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EGoM Reduces 2G Reserve Prices By 30% in 4 Circles

After a dud 2G spectrum auction last month, it looks like the empowered group of ministers (EGoM) has decided to lower the reserve price by 30% for the Delhi, Mumbai, Karnataka and Rajasthan circles in 1800 MHz band, which didn't attract any bidders, reports Business Standard. This follows earlier reports of Department of Telecommunication (DoT)'s plans to ask Telecom Regulatory Authority of India (TRAI) to re-price the current reserve price of Rs 14,000 crore for 5MHz spectrum. Following this reduction, the government has set a new reserve price of Rs 12,000 crore for a block of 5 MHz of spectrum in the 1800 MHz band on a pan-India basis as against Rs 14,000 crore prior to the auction, as indicated by the report. Circle-wise, the new reserve price for Delhi has been set at Rs 485 crore as against Rs 693.06 crore prior to the auction, while the…

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