wordpress blog stats
Connect with us

Hi, what are you looking for?

Govt received Rs 32434.10 Cr in upfront payments from telcos for 2016 auctions

The Indian government has received Rs 32434.10 crore in upfront payments from telcos who took part in this year’s spectrum auctions, minister of communication Manjoj Sinha said in written reply in Rajya Sabha. The upfront payment structure proposed by TRAI allows telcos to pay a part of the final bid upfront, while the rest of the amount is paid over 18 years with 18 equal annual installments, along with interest. Note that the government has already received Rs 14,653.07 crore by way of Earnest Money Deposits (EMD)—a mandatory Bank Guarantee from a Scheduled Bank for the purpose of pre-qualification—and from application fees from 7 different telcos prior to auctions. For 2016 auctions, the government sold waves worth Rs 65789.12 crore, Sinha added in his reply. The Department of Telecommunications originally projected an upfront revenue of Rs 34586.00, which is Rs 2,151 crore less than what was collected in form of upfront payments. The finance ministry on the other hand had higher expectations of Rs. 63580.92 Cr in upfront payments from telcos. However, it is evident that almost all telcos have stuck to upfront payment method. Although the 2016 auctions were dubbed as the largest spectrum auctions ever, around 59.03% or 1389.95MHz of spectrum remained unsold out of the total 2354.75 MHz which was put up for bids. The premium 700 MHz and 900 MHz saw no takers for this year’s auction due to high prices. Telcos like Airtel, Telenor and brokerage firms including Credit Suisse had red-signaled the high-pricing stating…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ