"As for Rs 14,000 crore (Rs 140 billion) as a reserve price that the government has set, it is expensive but I don't think it is a deterrent and even at Rs 18,000 crore (Rs 180 billion( people were going to bid. All in all, I don't see any problem in the auction," Trai chairman Rahul Khullar told PTI.
The final minimum price of Rs 14,000 crore (Rs 140 billion) for 1800 Mhz band and Rs 18,200 crore for 800 Mhz was decided by government based on initial recommendation made by Telecom Regulatory Authority of India.
The regulator on April 23 recommended around 10 times high base price at Rs 18,200 crore (Rs 182 billion) for the airwaves used for telecom services in 1800 Mhz band compared to the amount paid by telecom companies earlier to get permits for pan-India mobile telephony business.
United Arab Emirates-based telecom firm Etisalat, permits of whose Indian telecom venture Etisalat DB were cancelled by the Supreme Court, has proposed to set reserve price on the basis of Rs 1,658 crore (Rs 16.58 billion)
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