associate sponsors

Havells
HDFC

India raises $9.9 billion from telecoms spectrum auction - minister | Reuters

MUMBAI India's telecoms spectrum auction ended on Thursday, raising the government 657.89 billion rupees ($9.86 billion), Telecoms Minister Manoj Sinha said.The minister told reporters the government expected to get about 320 billion rupees of the spectrum payments initially as carriers are allowed to pay in installments.The government exceeded its budget estimates of 645.81 billion rupees from the spectrum auction.

However, the auction proceeds were far below the total value of the spectrum pegged at 5.6 trillion rupees as less than half of the spectrum found takers.

($1 = 66.7489 Indian rupees)

(Reporting by Rupam Jain; Editing by Alexandra Hudson)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Oct 06, 2016 21:45 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See