Press Esc to close
Tuesday 02 September 2014
News updated at 2:32 AM IST
Weather
Max: 27.4°C
Min : 19.4°C
In Bangalore
Sunny day

2G pricing was high: Montek

New Delhi, Nov 21, 2012 (IANS)

Centre will re-auction the spectrum after EGoM decision

Planning Commission Deputy Chairman Montek Singh Ahluwalia on Wednesday argued that the government has to relook the current base price before another round of 2G spectrum auction.

Speaking to reporters here, Ahluwalia admitted that the high base price was a mistake which received lukewarm response from the telecom companies.

The Deputy Chairman of the Planning Commission was part of an Empowered Group of Ministers that set the base price.  The government, which had set a “high” reserve price of Rs 14,000 crore for pan-India spectrum broadly drawing from the basis used by CAG in calculating the loss in the previous sale in 2008, managed a meagre Rs 9,407.64 crore in the auction that lasted barely two days.


“But that doesn't matter, we are going to re-auction and you will discover the price,” he told reporters on the sidelines of Indo-Japan symposium here.

Asked whether the government would reduce the spectrum prices for auction in Mumbai, Delhi, Rajasthan and Karnataka telecom circles, which went unsold, Ahluwalia said it will be decided by the Empowered Group of Ministers, which is scheduled to meet soon.

Ahluwalia said several discussions were held to set the reserve price for auctioning the spectrum and the EGoM had “actually lowered the reserve price” from Rs 18,000 crore suggested by sector regulator TRAI to Rs 14,000 crore.

“I want to mention here that one or two newspapers criticised that as if by lowering the reserve price we are going to reduce the outcome. I had argued very strongly that a healthy auction process will discover the prices whether you fix it at one or two or seven hundred,” he said.

Radia likely to appear in court on Dec 5

Former corporate lobbyist Niira Radia, a key prosecution witness in the 2G scam, is likely to appear on December 5 before a Delhi court to depose in the case, reports PTI. The CBI has submitted a list of prosecution witnesses to be called for recording of their statements before the court and Radia's evidence is slated for December 5 and 6.

Go to Top

Photo Gallery
President Pranab Mukherjee grants degree to a student at the 14th convocation of the University...

President Pranab Mukherjee grants degree to a student at the 14th convocation of the University...

Fireworks on the occasion of 410th installation anniversary of Sri Guru Granth Sahib, the holy...

Fireworks on the occasion of 410th installation anniversary of Sri Guru Granth Sahib, the holy...

Left Front activists take part in a rally to observe anti-imperialist day in Kolkata on...

Left Front activists take part in a rally to observe anti-imperialist day in Kolkata on...

Flood water flows through Srisailam dam after its four crest gates were opened in Kurnool on...

Flood water flows through Srisailam dam after its four crest gates were opened in Kurnool on...

BJP president Amit Shah during a visit to Sree Padmanabhaswamy temple in Thiruvananthapuram on...

BJP president Amit Shah during a visit to Sree Padmanabhaswamy temple in Thiruvananthapuram on...

Prime Minister Narendra Modi shakes hands with Japanese Minister of Foreign Affairs Fumio...

Prime Minister Narendra Modi shakes hands with Japanese Minister of Foreign Affairs Fumio...

Actress & BJP MP from Chandigarh Kirron Kher speaks during a seminar on...

Actress & BJP MP from Chandigarh Kirron Kher speaks during a seminar on...

Prime Minister Narendra Modi and Japan's Prime Minister Shinzo Abe makes a toast during a banquet...

Prime Minister Narendra Modi and Japan's Prime Minister Shinzo Abe makes a toast during a banquet...

Congress president Sonia Gandhi prays in a temple during a visit to her constituency Rae Bareli...

Congress president Sonia Gandhi prays in a temple during a visit to her constituency Rae Bareli...

Congress president Sonia Gandhi in a village hut during a visit to her constituency Rae Bareli on...

Congress president Sonia Gandhi in a village hut during a visit to her constituency Rae Bareli on...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523