The biggest ever spectrum auction is underway and the government has already received bids worth Rs 94,000 crores after 31 rounds of bidding at the end of day five.
While the government is happy with the outcome of the auctions, telecom experts and skeptics feel the manner in which the auction is designed and the prices are spiking, is actually counter-productive to the government's digital India mission.
The government has already exceeded its target of Rs 82000 cr from spectrum auction. According to telecom minister Ravi Shankar Prasad this is a validation of the government's stance not to give into pressure and cut the reserve prices.
"I don't want to comment on spectrum auction directly. All I can say that the government is maintaining an arms length distance, said Ravi Shankar Prasad. "However, if telcos have their way they would want spectrum for free but spectrum is not sold for free in any country, "he added.
Even as the government is working on the ambitious project of building the broadband highway, aggressive bidding for spectrum is taking place on expected lines.
According to experts, the price for 900 mhz spectrum has increased by an average of 75.3% over reserve price and it has been the most sought after for two reasons. First - incumbents, Bharti Airtel , Vodafone, Idea Cellular and RComm are bent on retaining their existing spectrum holding in circles where there licenses are coming up for renewal.
Second, Bharti and Vodafone are trying to push out Idea and RComm from the lucrative and growing telecom circles of Bihar and Uttar Pradesh.
However, the 2100 mhz spectrum has seen a muted response given that only 5 mhz spectrum has been put up for action. According to sources, Bharti Airtel, Vodafone and Reliance Jio are eyeing 800 mhz spectrum which is considered good for providing data services.
Bidding for spectrum will continue on day six and according to some estimates if the present trend continues then the government may well garner over Rs 2,50,000 cr.
Experts however feel that aggressive bidding is an outcome of the auction design and does not truly reflect the real value of spectrum.
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