Mobile Frequency Charges Capped at 5% of Revenue
January 27, 2014 6:22 PM EST
A panel of ministers decided on Monday that the annual fees companies pay to use mobile phone frequencies be capped at 5 percent of revenue for spectrum they will buy in an auction next month, Telecom Minister Kapil Sibal said.
The move scraps the 3-8 percent fee range the country currently levies in an effort to coax previously reluctant operators into taking part in India's third attempt at auctioning off two frequency bands for billions of dollars.
A sector regulator had recommended the annual fee for spectrum to be fixed at 3 percent of the operators' revenue.
Sibal said companies like Reliance Industries Ltd (RELI.NS), which bought 4G spectrum in a 2010 auction, will continue to pay 1 percent of their revenue as annual fee for that spectrum.
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- Twin Malaysia Airlines MH370, MH17 Aviation Disasters Create Phobia Among Travellers
- 2014 Ebola Outbreak: ‘Out of control… and Can Get Worse'; Asky Airline Stops Flying to Liberia, Sierra Leone; Liberia Closes Schools
- 5 Food Scandals That Shocked The World
- China Crackdown Against Christianity: Removes Church Cross, Cites Building Code Violation
- Australia’s Richest People Under 30 in 2014
- Samsung Galaxy S5 Alpha Leaks Online: Release Date, Five Features to Wait for New Smart Phone
- Photos of Motorola Moto X+1 Prototype and Specs Leak Online, Release Date, Four Fresh Features Revealed
- Freshly Leaked Apple iPad Air 2 Cases Confirm Touch ID Sensor; Release Date, Limited Specs and Price Listed
- Sony Xperia Z3: Release Date, Five Features to Expect from New Android Smart Phone
- Moto X Android 4.4.4 KitKat Update Guide: Schedule and How to Install
- Top Surprising Features Of iOS 8
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date