Union Cabinet approves to conduct 5G spectrum auction
HY News
15 June, 2022 02:39 pm IST
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The Union Government has said that the 5G spectrum auction will commence on 26th of next month. Communications Ministry has said that the Department of Telecom has issued notice inviting applications to facilitate roll-out of 5G.
The Ministry said, under the leadership of Prime Minister Narendra Modi, government is committed to provide affordable, state-of-art high-quality telecom services to all citizens.
It said, with considerable success in rolling out widespread 4G services, India is now ready to introduce 5G telecom services in the country.
The successful bidders will be allowed to make payment in 20 equal annual installments, at the interest rate of 7.2 percent.
The Ministry said, spectrum acquired through this auction can be surrendered after a minimum period of ten years. There will be no Spectrum Usage Charges for spectrum acquired in this auction.
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