"In 2010 3G auction, the government fixed Rs. 700 crores per megahertz reserve price and in the auction the then government earned Rs. 3,350 crores per megahertz, almost 8 times of the reserve price," he told reporters after a meeting in New Delhi of the union cabinet chaired by Prime Minister Narendra Modi.
"The 2100MHz is a very techno-savvy band for data and video transmission. This time we have fixed a reserve price of Rs. 3,705 crores. We have taken the market potential of this band," he added.
Earlier, the Telecom Commission had suggested a base price of Rs. 3,705 crores per megahertz for 3G spectrum base price.
The base price suggested by the panel is around 11 percent higher than what telecom companies paid for in the 2010 auction.
It is also 36 percent higher than Telecom Regulatory Authority of India's recommendation of Rs. 2,720 crores per megahertz.
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