The government is all set to earn around Rs 1 lakh crore from the sale of radiowaves as the telcos has deposited Rs 20,435 crore as the earnest money for spectrum auction. As per the PTI report, the telecom operators have deposited Rs 20,345 crore as the earnest money deposit (EMD) which highlights the fierce bidding which is set to take place in the upcoming auction.
DoT has stated that, the EMD amount, which is the highest so far, shows that there is high demand of spectrum and we are looking forward to a successful spectrum auction. As per the reserve price, the government has estimated to collect Rs 82,000 crore from the sale of radiowaves for providing 2G as well as 3G services.
With the minimum starting price for the auction of 2,100MHz band or 3G spectrum, government would garner at least Rs 17,555 crore. However, with the reserve price for auction of 2G spectrum in 800MHz, 900Mhz and 1800MHz bands will fetch the government Rs 64,840 crore. It is estimated that with the record EMD the government might earn Rs 1 lakh.
As reported by PTI, the DoT official stated, that the quantum of spectrum is lower than last time, but the EMD is higher which raises hopes of garnering over Rs 1 lakh crore from auction scheduled to start from March 4. The report also stated that, RJio has submitted the highest EMD of about Rs 4,500 crore, followed by Bharti Airtel Rs 4,336 crore, Idea Cellular Rs 4,000 crore, Vodafone Rs 3,700 crore, Tata Teleservices Rs 1,500.25 crore, Reliance Communications Rs 1,175 crore, Uninor Rs 724.95 crore and Aircel Rs 500 crore.
For last auction conducted in February 2014, government received EMD of Rs 8,759.75 crore from eight companies.