New Delhi. Telecom companies were waiting for the auction of the 5G spectrum for a long time. The Narendra Modi government at the Center has put its stamp on the auction of the 5G spectrum. This has been decided in the cabinet meeting. The process of application will be started soon by the Department of Telecom. In a statement issued by the government, it has been said that the spectrum of 72 gigahertz will be auctioned for 20 years. Let us tell you, the speed of 5G will be 10 times more than 4G.

The bidding of the 5G spectrum is possible by the end of July. Reliance Industries, Bharti Airtel, and Vodafone Idea are likely to participate in this auction. The auctioneer will also have the option to surrender the spectrum after 10 years.

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal of the Department of Telecommunications for a spectrum auction under which spectrum will be allotted to successful bidders for providing 5G services to the public and enterprises. The government will auction a total of 72097.85 MHz spectrum with a validity of 20 years by the end of July. Apart from this, spectrum auction will also be conducted for various low, medium, and high-frequency bands.

“There will be no compulsion to make any advance payment to successful bidders, this is happening for the first time,” it said. The spectrum will be paid in 20 equal annual installments and these advance installments will have to be paid at the beginning of each year.