The government will garner as much as 37,000 crore rupees this fiscal from spectrum auction after taking into account close to 5,000 crore rupees of service tax that telecom companies will pay. The government has received commitment of 65,789 crore rupees by selling 964.80 MHz of spectrum. This is more than the combined amount of airwaves sold in past four auctions, in a sale that concluded on Thursday. Of this, winners have to deposit 32,000 crore rupees within 10 days of receipt of allotment letters.Telecom Secretary J S Deepak said that the allotment letters will go out as early as on Monday and the spectrum will be assigned to the winning companies within one month of their depositing the money.The Telecom Secretary added that the auctions have ended the spectrum scarcity that was faced by the telecom industry in India. He said that against total of 930 Mhz of spectrum sold over the last four years, government sold 965 Mhz of spectrum in the 2016 auctions. He said, this will improve the quality of services.
News On AIR | October 8, 2016 8:38 AM
Govt to get Rs 37000 crore from spectrum auction this fiscal