Auction bonanza for Narendra Modi government

The government mopped up a whopping Rs 109,874 crore from the latest auction, far higher than any sale till date, with the prices in the 900 MHz nearly doubling, and a surprise bonus from the 800 MHz which surged around 80%, even as telcos fought for retaining airwaves critical for survival. Most telcos were able to keep their existing spectrum holdings, sources say, adding that some may have picked up 3G airwaves too. However, analysts say, overall proceeds will financially strain the debt-laden sector. ET gives a bird’s eye view.