3G spectrum revenue crosses Rs 56,000 cr on Day 27

Revenue from the 3G spectrum sale touched the Rs 54,000-crore mark with the bid for all-India third generation mobile licence rising to Rs 14,026 crore ($3 billion) on Day 27 of the auction today.

At the current all-India bid price for radio waves, the government is assured of at least Rs 56,631 crore. The government had expected a revenue of Rs 35,000 crore from sale of both 3G radio waves and BWA spectrum. The base price for all-India 3G licence was fixed at Rs 3,500 crore.

Mumbai continues to be the most valuable circle at Rs 2,558 crore, followed by Delhi at Rs 2551 crore, Uttar Pradesh (W) at Rs 413 crore and Bihar at Rs 141 crore.

Telecom Minister Andimuthu Raja had recently stated that the government may garner Rs 50,000-55,000 crore by selling 3G radio waves and BWA spectrum.

In all, nine mobile operators are up against each other for spectrum for 3G services, which allows subscribers to download hi-speed data and stream videos on mobile phones. The radio waves are being auctioned across 22 circles.