The reserve price is Rs1,750 crore for a pan-India BWA spectrum licence. After experiencing success in 3G spectrum auction, the government is now hopeful that the BWA auction would also bring a revenue windfall
The auction for Broadband Wireless Access (BWA) started today with 11 players, including Bharti, Vodafone, RCom and Tatas, in the race to acquire the two slots on offer, reports PTI.
When contacted, a senior Department of Telecommunications (DoT) official said the actions are going on smoothly across 22 circles simultaneously and so far two rounds have been completed.
Eleven telecom firms, including Bharti Airtel, Vodafone, RCom, the Tatas and Qualcom, are in the fray for the two slots of spectrum on auction.
There is no separate estimate for BWA revenue generation.
The government had earlier estimated Rs35,000 crore from the sale of both third generation (3G) and BWA. The 3G auction, which concluded recently, has fetched Rs67,719 crore to the government.
The e-auction started at 9 am and will remain open till 7.30 pm everyday till the process is complete. Other players participating in the auction include Idea Cellular, Aircel, Augere Mauritius, Infotel Broadband Services, Internet Service Provider, Tata Communications Internet Services, Tikona Digital Networks and Vodafone Essar.
The reserve price is Rs1,750 crore for a pan-India BWA spectrum licence. After experiencing success in 3G spectrum auction, the government is now hopeful that the BWA auction would also bring a revenue windfall.
Global investment bank Rothschild and telecom auction services provider Dot.econ are advising the government on the BWA auction.
The government has set the base price at Rs1,750 crore for BWA. Two blocks of 20MHz unpaired spectrum in the 2.3GHz band in each of the 22 service areas in the country will be up for bidding.
The two government-owned companies—Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), which have already been given spectrum ahead of the private players, will have to pay the equivalent of the winning bid in each service area.
Take Solutions Ltd, provider of supply chain management (SCM) and life sciences (LS) products, said it promoted Shobana NS, its vice-president for finance and accounts as the new chief financial officer (CFO).
Ms Shobana has over 15 years of expertise in strategic and operational aspects of management with continuous exposure and experience in SCM and general management roles.
Take Solutions shares ended 4.82% down at Rs26.65 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.15% up at 16,469.55 points.
The Direct Taxes Code is expected to replace the archaic Income Tax Act, 1961 by the next fiscal
The government today said that the revised draft of the Direct Taxes Code (DTC), which is aimed at simplifying the tax structure, would be made available for public comments in the first week of June, reports PTI.
"Revised discussion note on the Direct Tax Code will be revealed in the first week of June and will remain open for (public comments ) for 15 days," Union revenue secretary Sunil Mitra said at the Bengal National Chamber of Commerce and Industry function held in Kolkata.
He was hopeful of DTC becoming a law by the next Budget session. "By Budget session, it should be a law," Mr Mitra said.
Finance minister Pranab Mukherjee has also said that the bill on DTC was likely to be tabled in the monsoon session of Parliament.
The government had come out with the first draft on DTC in August last year.
However, it drew flak from certain quarters for its proposals such as imposing a minimum alternate tax (MAT) on gross assets and taxing long-term savings at the time of withdrawal.
The silence on giving income tax rebate on housing loans was also criticised and these grievances are expected to be addressed in the revised draft.
The finance minister has said that in all nine concerns were considered while revising the first draft.
DTC is expected to replace archaic Income Tax Act, 1961 by the next fiscal and present a simple direct tax structure to the country.