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5G spectrum auction likely around April to May next year: Vaishnaw

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3 years ago

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5G spectrum auction likely around April to May next year: Vaishnaw

Communications Minister Ashwini Vaishnaw (Ashwini Vaishnaw) said on Thursday that the auction of 5G spectrum may take place around April to May next year. Vaishnaw said that although the telecommunications operator rescue measures announced in September this year marked the first batch of reforms, the government will launch a series of further reforms, “the telecommunications regulatory structure should change in the next 2-3 years.” In his speech at the “Times Now Summit 2021″, the minister stated that India’s telecommunications industry regulation must be based on the best in the world, and added: “Therefore, we will carry out a series of reforms in this area so that the global regulatory benchmark It was realized in India”.

Regarding the timetable for the 5G auction, Vaishnaw pointed out that the Indian Telecommunications Regulatory Authority (Trai), which is in charge of the auction structure, is negotiating on this matter. “I think they will submit the report from February to mid-February, which is exactly what we think, maybe at the end of February, up to March. After that, we will conduct an auction immediately,” he said. Telecommunications (DoT) had earlier hoped to hold a 5G auction before the end of this fiscal year. The Minister added that it is difficult to determine a specific timetable for the upcoming auction at this stage, as it largely depends on the time required for Trai to complete his opinions.

“However, today, our estimate is from April to May. I estimated March earlier. However, I think this needs…because the consultations are complicated and different opinions are coming…” he said. The government is keen to ensure that the auction is technology-neutral and hopes to provide a spectrum that remains consistent for many years to come. “So, 4G can be used in that area, and 5G can also be used. So, this is not just based on short-term thinking, but more like thinking based on at least 5-10 years,” he said. You may remember that DoT approached Trai to seek its advice on pricing, quantum and other modes related to radio waves in multiple frequency bands, as it prepares for 5G spectrum auctions in the coming months.

News Source : Hindustan Times

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

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19 hours ago

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November 21, 2024

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Oppn seeks probe into Adani charges in US: ‘Obvious protection of PM Modi’

Following US SEC charges of bribery against Gautam Adani, opposition parties criticise PM Narendra Modi and call for a JPC investigation.

As billionaire Gautam Adani faces charges in the US for alleged bribery and fraud, the Opposition on Thursday intensified its attack on the Centre over its alleged links with the Adani Group.

Gautam Adani has been charged in the US with allegedly paying $250 million in bribes to Indian officials between 2020 and 2024 to secure favourable terms for solar energy contracts. The scheme, prosecutors said, could have earned Adani’s group over $25 billion in profits.

Congress demands JPC probe

Reacting to the charges, the Congress called for a Joint Parliamentary Committee (JPC) probe into alleged scams involving Adani’s conglomerate. The party also demanded the appointment of a “new and credible” Sebi chief to investigate Adani’s financial dealings and compliance with securities laws.

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ALSO READ- At 65.2%, Maharashtra records highest voter turnout since 1995 assembly election

Congress leader Jairam Ramesh said the US Securities and Exchange Commission’s (SEC) actions highlight the failure of Indian institutions to investigate the group. “The indictment vindicates Congress’s demand since January 2023 for a JPC into the Modani scams,” Ramesh wrote on X.

He accused Prime Minister Narendra Modi of shielding Adani and claimed Congress’s “Hum Adani Ke Hain Kaun” (HAHK) series had exposed the businessman’s alleged fraud and his ties with the PM.

The fact that it has taken a foreign jurisdiction to properly investigate Adani only shows how Indian institutions have been captured by the BJP, and how decades of institutional development have been undone by greedy and power hungry leaders, the Congress leader said in another post.

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“All of this is consistent with a long record of fraud and criminality carried out with impunity with the obvious protection of the Prime Minister,” Ramesh charged.

Other Oppn leaders join attack

Other opposition leaders joined the attack. Trinamool Congress MP Saket Gokhale questioned the BJP’s involvement in Adani’s dealings and demanded an independent judicial probe.

Aam Aadmi Party leader Sanjay Singh accused PM Modi of allowing Adani to tarnish India’s global reputation.

ALSO READ- Adani Group shares plunge after US SEC charges, Adani Green down 16%

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Adani stocks latest updates

The allegations rattled markets, with Adani Group stocks plunging. Adani Enterprises fell 20 per cent in pre-open trade, while shares of Adani Ports, Adani Green, Adani Power, and others dropped between 7 per cent and 18 per cent.

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