Strapped govt to fast-track ₹4 Lakh crore of 4G spectrum sale

Mumbai: The government is speeding up plans to auction 4G spectrum worth more than ₹4 lakh crore, said a senior government official. An inter-ministerial note being drafted is likely to be presented to the Cabinet as early as next month, the person said.

Bharti AirtelNSE -0.87 % and Reliance Jio Infocomm, India’s top two telcos, have been pushing for an early 4G spectrum sale given the surge in demand for data and voice services, and to buy back airwaves in circles where their permits are expiring next year. The government, in turn, requires the auction proceeds to meet spiralling expenditure needs amid the Covid-19 crisis that has hit revenue.