The Empowered Group of Ministers (EGoM) on telecom, headed by Finance Minister, P Chidambaram, will meet on November 29 in the backdrop of lukewarm response to the recently concluded 2G spectrum auction. According to sources close to the ministry, the spectrum EGoM will take a stock of the auction result and future course.
The auction of spectrum that started on November 12 attracted muted response from the market and fetched the government only Rs 9,407 crore out of Rs 28,000 crore which was the minimum value of the airwaves put for auction.
The auction of CDMA spectrum had failed earlier after bidders pulled out. Sources say the EGoM will also mull the future of CDMA spectrum action and one-time fee issue. Must read: Govt was handicapped; need to reassess auctions, says Sibal
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