5G Spectrum Auction Latest Update:
The 5G spectrum auction process was completed on Monday after 1 week, with which the government has received bids worth Rs 1,50,173 crore from 4 telecom companies. It is to be known that part of the auction process were Reliance Jio, Adani Enterprises, Bharti Airtel and Vodafone Idea. The process of 5G spectrum auction started on July 26. The auction process of 5G spectrum went on in 4 rounds on the first day. On the very first day, the government had received bids worth Rs 1.45 lakh crore for the auction of 5G spectrum.
5G Spectrum Auction Day 7 | Total 40 rounds are conducted so far. Telecom companies bid for more than Rs 1.50 lakh crores
— ANI (@ANI) August 1, 2022
Let us tell you that in the auction process of 5G spectrum, bids were being made for 72 GHz spectrum, their price was Rs 4.3 lakh crore. At the same time, after 40 rounds, the 5G spectrum auction process came to an end.
Bids higher than the government’s estimate
The government was expecting to earn Rs 1,00,000 crore in the 5G spectrum auction. At the same time, on the last day of the auction, many more bids of Rs 1,50,173 crore have come in the account of the government. The name of Mukesh Ambani’s Reliance Jio has appeared in the highest bidder in the auction process.
On the auction of 5G spectrum auction, the government has got double the amount of 4G spectrum auction and three times more than the 3G spectrum auction. The government got bids worth Rs 77,815 crore on the auction of 4G spectrum auction and Rs 50,968.37 crore on the auction of 3G spectrum auction.
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5G internet service will be 10 times faster than 4G
5G service is believed to be 10 times faster than 4G. There was talk of 5G services coming in the country for a long time, while it is believed that 5G services will start in the country by Diwali this year. In June last month, the 5G spectrum auction was approved in the cabinet meeting chaired by Prime Minister Narendra Modi.
The 5G Spectrum Auction has concluded successfully with a total bid amount of Rs 1,50,173 Crores. 72,098 MHz of spectrum was offered for auction, and out of that 51,236 MHz has been sold: Union Minister Ashwini Vaishnaw pic.twitter.com/IyzSX4YNgd
— ANI (@ANI) August 1, 2022
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