India EGoM slashes base price by 30% for unsold 2G spectrum in 4 circles

NEW DELHI: After poor response to November's 2G spectrum sale, a ministerial panel on telecom on Friday decided to lower the base price by 30 per cent for radiowaves in 1800 Mhz band in four circles, which attracted no bidders, for fresh auction this fiscal. These four circles — Delhi, Mumbai, Karnataka and Rajasthan — were some of the most expensive circles in last month's 2G spectrum auction. "The empowered group of ministers (EGoM) has decided to reduce the reserve price by 30 per cent in the four circles in 1800 MHz band, where the spectrum remained unsold," a top source said. TOI