Finmin tells DoT to double 3G bid to Rs 4,040 cr

The finance ministry has asked the Department of Telecommunications (DoT) to double the reserve price for pan-India 3G auction to Rs 4,040 crore from the current Rs 2,020 crore, according to media reports. It has also asked broadband wireless access (BWA) reserve price to be doubled to Rs 2,000 crore.

Considering the participation of foreign telecom major in the 3G spectrum auction, the move has been taken. The 3G spectrum auction has been postponed to January 30 from the earlier date of January 16. If the revised reserve price comes into play roughly the government could earn is around Rs 60,000 crore, the media reports quote.