Govt to push spectrum auction to auspicious day: Reports
24/08/2016 10:10
The Indian Government has said that it is looking at pushing the upcoming spectrum auction by a few days to coincide with the period considered auspicious by Hindus, as requested by telecom industry. Commenting on the issue, Telecom Secretary J S Deepak told the media, "The date of auction we had announced from September 29, but many companies and people feel that the Navratra is starting from October 1,that is a good time to bid. If it gives them good comfort to bid and spend more money to buy the spectrum, we are willing to change it to the first week." As per reports, citing high reserve price for certain mobile radiowaves, telecom firms have not shown great enthusiasm so far for the upcoming round, being touted as the largest spectrum auction in the country. As per reports, telecom is one of the most leveraged sectors as the companies have been heavily investing in capex towards network expansion and spectrum buys.
