Government gets Rs 18,267 cr upfront payment for spectrum: Media Report

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Government gets Rs 18,267 cr upfront payment for spectrum: Media Report
The government received payment of Rs 18,267 crore, about Rs 30 crore less than the bids received from seven companies in the spectrum auction last month because of unavailability of radiowaves in some parts of service areas, reported PTI.

"All companies have made upfront payment today. Total of about Rs 18,267 crore has been received," Telecom Secretary MF Farooqui told PTI.

The amount received exceeds the government's target of about Rs 11,333 crore set for the current fiscal, ending March 31, by about 61 per cent.

The government received bids worth Rs 62,162 crore in the auction for 1800 Mhz and 900 Mhz bands. The winners -- Vodafone, Airtel, Reliance Jio Infocomm, Idea Cellular, Telenor (Uninor), Reliance Communications and Aircel -- had the option of paying in instalments - 33 per cent upfront for 1800 Mhz and 25 per cent for 900 Mhz band.

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