The Cabinet has approved the Empowered Group of Minister’s decision on spectrum pricing.
The ministerial panel headed by Finance Minister P. Chidambaram had endorsed the Telecom Commission’s proposal to fix reserve price for the 1800 MHz and 900 MHz spectrum bands.
The decision by the Cabinet clears the decks for the Department of Telecommunications to come out with the Notice Inviting Application for the upcoming spectrum auction.
The Finance Ministry has set a target of Rs 40,000 crore from the sale of spectrum in January.