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3G auction drill starts on Sunday
By siliconindia
New Delhi: The government will be inviting bid applications for the much delayed auction of third-generation spectrum from Sunday. While earlier scheduled for January 14, the auction has now been postponed to next month. The bidding is expected to be over by February, and the government expects to rake in 
25,000-35,000 crore from the sale by March, reports Telegraph.
The government hopes to plug part of its fiscal deficit from the proceeds of 3G auction. The fiscal deficit for 2009-10 is estimated at a 16-year high of 6.8 percent of GDP, or 400,000 crore. Four slots in each of the 22 telecom circles have been put up for sale, with the base price set at 3,500 crore for a pan-India spectrum.
According to officials, winning bidders may have to pay the entire amount upfront within 20 days of the auction. However, spectrum will be available only in August. The Department of Telecom (DoT) would also soon provide the details on the auction, including the exact availability of spectrum in each circle and the payment schedule.
"Applications for participating in the auction will be accepted till the last week of January, while mock auctions will be held around February 10," said DoT Officials. A fresh schedule with all the dates will be issued soon.
25,000-35,000 crore from the sale by March, reports Telegraph.
The government hopes to plug part of its fiscal deficit from the proceeds of 3G auction. The fiscal deficit for 2009-10 is estimated at a 16-year high of 6.8 percent of GDP, or 400,000 crore. Four slots in each of the 22 telecom circles have been put up for sale, with the base price set at 3,500 crore for a pan-India spectrum.
According to officials, winning bidders may have to pay the entire amount upfront within 20 days of the auction. However, spectrum will be available only in August. The Department of Telecom (DoT) would also soon provide the details on the auction, including the exact availability of spectrum in each circle and the payment schedule.
"Applications for participating in the auction will be accepted till the last week of January, while mock auctions will be held around February 10," said DoT Officials. A fresh schedule with all the dates will be issued soon.
