3G auction: Issues with law, finance ministries resolved, says Raja

DoT will issue a notice inviting applications from potential bidders by the end of this week and all pending issues have been resolved, the telecom minister has said

The government is all set to start the process of auctioning of spectrum for 3G mobile services as all issues with the law and the finance ministries have been resolved, telecom minister A Raja said on Monday, reports PTI.

"The Department of Telecom (DoT) will issue Notice Inviting Applications (NIA) from the potential bidders by the end of this week. All pending issues have been resolved," Mr Raja said at the sidelines of a function in New Delhi.

Asked about the date for auction of spectrum, he said, "You can take 40-45 days from the date of issuing NIA."

Going by this, the auction cannot be completed within the current financial year with only 36 days remaining.

The law ministry had earlier objected to a clause in the draft NIA that successful bidders may ask for compensation in case they were not allotted spectrum within the stipulated time period. On the issue of the number of slots to be auctioned, sources said that three slots would be auctioned across the nation, but in some states the government may decide to allow four private players.

The government had earmarked Rs35,000 crore of proceeds from the sale of spectrum in the current financial year, but due to uncertainty over the number of slots and compensation clause, which has been resolved now, the auction is likely to be delayed.
 

User

A Gusher or Dry Hole?

Interlink Petroleum Limited (IPL) is a small company engaged in exploration of oil and gas. It...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation
A Secondary Correction

The Sensex may correct between 3,250-6,500 points over 3-6 months 

The Sensex (and the...

Premium Content
Monthly Digital Access

Subscribe

Already A Subscriber?
Login
Yearly Digital+Print Access

Subscribe

Moneylife Magazine Subscriber or MSSN member?
Login

Yearly Subscriber Login

Enter the mail id that you want to use & click on Go. We will send you a link to your email for verficiation

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)