Business Other News 30 Aug 2016 Spectrum auction put ...

Spectrum auction put off by 2 days to skip shradh

DECCAN CHRONICLE. | DECCAN CHRONICLE
Published Aug 30, 2016, 12:58 am IST
Updated Aug 30, 2016, 1:37 am IST
The biggest spectrum auction is expected to bring in Rs 5.63 lakh crore if all the airwaves are bought at the base price.
Spectrum auction will start from October 1, which is also the day when Navratri begins.
 Spectrum auction will start from October 1, which is also the day when Navratri begins.

New Delhi: The Centre on Monday postponed its biggest spectrum auction by two days to October 1 to ensure that the sale doesn’t fall in the inauspicious period of shradh. Earlier, the spectrum auction was planned to start from September 29.

As per the Hindu tradition, people don’t prefer to buy new things during shradh.
Spectrum auction will start from October 1, which is also the day when Navratri begins.

“The date of auction for spectrum was September 29. But many companies and people feel that the Navratri, which is starting from October 1, is a good time to bid. If it gives them good comfort to bid and spend more money to buy the spectrum during Navratri, we are willing to change it to the first week,” telecom secretary J.S. Deepak had said last week.

The biggest spectrum auction is expected to bring in Rs 5.63 lakh crore if all the airwaves are bought at the base price. The government will put a total of 2,354.55 megahertz of mobile airwaves frequencies.

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