Day 6 @ 3G auction

The government is all set to reap handsome revenues from the 3G spectrum auction with the pan-Indian licence bid crossing Rs 5,000 crore mark on the sixth day of the bidding process. At the current price the government will get over Rs 20,700 crore from the sale of 3G spectrum and there is still more potential for the bid to go up. The government targets Rs 30,000-35,000 crore from the sale of radio waves for 3G telephony and broadband wireless access services. The all-India licence bid price jumped 43% — the highest rise since the start of auction — to Rs 5,016 crore over the base price of Rs 3,500 crore. Friday’s price is 3.8% higher over the Thursday’s highest bid of Rs 4,831 crore. Gujarat continued to be the most lucrative circle at a bid value of Rs 512.6 crore, pipping Delhi which received bid at Rs 493 crore at the end of round 34.