5G Spectrum Auction 2023-24 brought revenue of over Rs 11 thousand 340 crore to govt, Union Minister Jyotiraditya Scindia

Minister for Communications Jyotiraditya Scindia has said that 5G Spectrum Auction 2023-24 has brought in a revenue of over 11 thousand 340 crore rupees to the government exchequer. In a reply in the Lok Sabha yesterday, 

Mr. Scindia said, Spectrum Auction 2023-24 was primarily conducted to maintain the continuity of services by giving an opportunity to Telecom Service Providers to replenish the spectrum which was expiring this year and to incrementally augment



the existing mobile services. He said,  the Auction started on 25th June and concluded on 26th June after seven rounds of bidding. 

Mr.Scindia said, the recommendation of reserve prices is a function entrusted to the Telecom Regulatory Authority of India TRAI which is an independent regulator. The Minister said, TRAI recommends reserve prices after a due consultation process with the stakeholders.