NEW DELHI: The block price for pan-India 3G spectrum hit Rs 4831 crore on the fifth day of bidding on Friday. This is an increase of 5.41% over Tuesday's block price of Rs 4,583 crore. The auctions began on April 9 at a reserve price of Rs 3,500 crore. With this, total revenues for the government have crossed Rs 19,668 crore, an increase of Rs 996 crore over Tuesday.

Tuesday's closing block price was an increase of 5.98% over Monday's closing block price of Rs 4,324 crore and a 30.94% increase over the starting reserve price of Rs 3,500 crore. Total revenues for the government crossed Rs 18,672 crore, an increase of Rs 1,036 crore over Monday.

The government is auctioning three slots of pan-India 3G spectrum. The fourth operator is BSNL/MTNL, which is not participating in the bid but will pay the market price for the spectrum allocated to them as determined through these auctions. Some additional revenue will come from an extra slot in five circles.

The exercise is ultimately expected to raise over Rs 30,000 crore for the government and will bring in at four to five players in 3G, ensuring adequate competition in this space. For the mobile consumer, 3G will bring in added features like high speed internet, video, television and other next generation services.
Monday's block price was a 5.85% increase over Saturday's closing price of Rs 4,085. The closing price was Rs 3,980 crore on Friday.

The percentage increase in the total bids on Saturday was just 2.63% compared to the 13.71% jump in the price on the first day of bidding.

Bidding activity was maintained at 80% on the first four days of the auction.

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