Communication minister calls the auction sale of spectrum a new record rather than a failure

The communication minister of India Mr. Manoj Sinha on Friday was seeming to skip aside the criticism of the just concluded telecom spectrum auction.  

“It is highest ever sale in the last four years of auctioning. In this year we sold around 965 MHz of spectrum,” Sinha said at a press conference.

He also said this particular auction could not be compared with those in previous years where there were many licence renewal cases. “This was not an auction for survival. This auction will help companies strengthen its network.”

The minister, of course, glossed over the fact that only 41 per cent of the 2,354 MHz on offer was sold. Also, compared to the total expected revenue of Rs 5.66 lakh crore ($88.5 billion), only about 11.6 per cent or Rs 65,789 crore ($9.8 billion) was raised in 31 rounds of bidding. Most industry players agree that this could hardly be called a success.

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