NEW DELHI: The Narendra Modi-government is commencing its largest-ever 2G and 3G telecom spectrum auction today that is likely to fetch the exchequer Rs 75,000-Rs 100,000 crore.
The total spectrum put to auction is 103.75 MHz in 800 MHz band, 177.8 MHz in 900 MHz band and 99.2 MHz in 1,800 MHz band and 5 MHz in 2100 MHz (3G).
Fierce bidding is expected from telcos such as Vodafone, Idea and Airtel as 29 licences in 18 service areas face expiry in 2015-16.
Eight companies, including Reliance Jio, Airtel, have submitted an earnest money of Rs 20,435 crore for the auctions.
The Department of Telecom (DoT) has selected Kolkata-based mjunction services for conducting the upcoming spectrum auction.
Of the total revenue, around Rs 25,000 crore is expected to come in the current year. The telcos can make the payment for the spectrum acquired in the auction over 10 years.
The auctions are happening despite some of the telcos trying to stall the auctions, citing high reserve price and approached different courts.