The Union Cabinet chaired by Prime Minister Narendra Modi on Thursday approved the telecom department's proposal to auction spectrum across multiple bands at a reserve price of Rs 96,317.65 crore.Additional spectrum will improve the quality of telecom services and coverage for the consumers.
The auction will be held for spectrum in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz and 26 GHz frequency bands. Spectrum will be offered for assignment for validity period of 20 years. A total of 10,523.15 MHz is being offered with a valuation of Rs 96,317.65 crore (at reserve price).
"To make spectrum available in the country in a transparent manner, the Cabinet had on September 15, 2021 had decided that every financial year spectrum will be auctioned. Accordingly, the spectrum which remained to be auctioned in 2022-23, the spectrum whose assigned period is expiring in 2024, along with some surrendered spectrum will now be auctioned," Information and Broadcasting Minister Anurag Thakur said.
The Cabinet also approved six multi tracking projects across Indian Railways which would facilitate ease of travelling, minimize logistics cost, reduce oil imports and lower carbon emissions.
The Union Cabinet also gave its nod to the extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26 within the already approved fund size of Rs 7522.48 crore and budgetary support of Rs 939.48 crore.(UNI)
