Government expects to shower in up to Rs 1 lakh crore during 5G auctions

The government expects to earn Rs 80,000 crore to Rs 1 lakh crore from upcoming 5G auctions, CNBC TV18 reported on Friday.

Spectrum totalling 72 gigahertz (Ghz) would be put on the block in the auction expected to commence on July 26.

However, a report by IIFL indicates that a large chunk of the spectrum could remain unsold as the three big players in the market – Reliance Jio, Bharti Airtel, and Vodafone Idea – will likely only spend about Rs 71,000 crore in the auction.

The department of telecom had received the cabinet’s approval to auction 5G spectrum earlier this month which will have 10 times more speed and capacity than 4G.