Spectrum winners pay full upfront amount of Rs32,300 cr
13 Apr 2015
The government has obtained a complete upfront payment of over Rs32,300 crore from telecom firms towards spectrum bought in the March auction, comfortably above the minimum expected Rs28,835.34 crore.
Telecom leader Bharti Airtel has paid the complete sum for the Rajasthan and Northeast circles.
The Department of Telecom (DoT) has acquired almost Rs3,500 crore above the minimum .
All the bid winners have paid the minimal quantity due from them.
The financial institution guarantees have additionally been acquired as per demand, they stated.
India's largest telecom spectrum public sale ended on 25 March after 19 days of fierce bidding that fetched bids value about Rs1.10 lakh crore to the federal government.
The proceeds from the public sale of airwaves are anticipated to assist the federal government maintain the fiscal deficit inside the goal of 4.1 per cent of the GDP, or about Rs 5.12 lakh crore, for 2014-15.
As per DoT, Aircel has paid Rs742.5 crore, Idea Cellular Rs7,734.2 crore, Reliance Communications Rs1,104.1 crore, Reliance Jio Infocomm Rs2,591.8 crore, Tata Teleservices Rs2,013.3 crore and Vodafone Rs6,817.2 crore.
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