New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a proposal of the Department of Communications to conduct a spectrum auction to successful bidders for providing 5G services to the public and enterprises.
The government will auction a total of 72097.85 MHz spectrum by the end of July with a validity of 20 years.
The government has done away with an upfront payment for the airwaves. Successful bidders can pay for 5G spectrum in 20 installments, an official statement said.
The Cabinet has decided to “enable development, to set up private captive networks to spur new waves of innovations,” the statement said.
Officials said the new 5G services would be 10 times faster than the current offering under 4G.