$\"\"$ NEW DELHI: The just-concluded telecom auctions are a spectacular failure from the point of view of raising revenue and selling what was offered. The government will get this fiscal . 56,000 crore it had targeted from . 32,000 crore of the ` only ` spectrum auctions, a 43% shortfall. Only 41% of the 2,353 MHz of spectrum offered could be sold. The reason is not far to seek. This self-inflicted blow to fiscal health is the direct result of the government setting too high a reserve price for the 700, 800 and 900 MHz bands, which remained unsold except for 15% of the offer in 800. The reserve price was several times the price of 1 MHz of like spectrum per capita in rich countries. The government must learn from this experience and not make the mistake of setting high reserve prices in future spectrum auctions. A high base price is an unwarranted distortion.
\n
A reason often cited to justify high base prices in auctions is possible indictment by the CAG<\/a> à la the so-called 2G<\/a> scam report by CAG<\/a> Vinod Rai<\/a>, which used the results of the 2010 auctions to estimate the fair value of spectrum. This excuse does not wash. Subsequent auctions in 2012, 2013 and even 2015, in which companies had to perforce bid high to stay on in business, revealed pricing far lower than in 2010. Even without the conceptual correction required, of taking into account the economic benefits of low-priced spectrum, including faster growth and the higher tax revenues that result, there is no justification for keeping the base price high.
\n
\nA competitive bidding process would discover the optimal price, if the base price is not set too high to thwart bidding altogether. Unlike coal or other minerals, spectrum has no globally traded price. Its value is locationspecific. Nor does spectrum get used up, it just gets used over and over again, creating value. Spectrum use generates network effect: the more the number of people on the network, the more the value of being on the network for everyone. Keep spectrum prices low, focus on expanding the numbers on the network, maximise the value created, and target a share of that value as tax revenue.<\/body>","next_sibling":[{"msid":54747956,"title":"We may be 6 months behind in 4G but market will grow gradually: Himanshu Kapania, MD, Idea","entity_type":"ARTICLE","link":"\/news\/we-may-be-6-months-behind-in-4g-but-market-will-grow-gradually-himanshu-kapania-md-idea\/54747956","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54748000,"entity_type":"ARTICLE","title":"Spectrum fiasco: Overpricing fallout","synopsis":"Spectrum's inherent nature makes greed a sin","titleseo":"telecomnews\/spectrum-fiasco-overpricing-fallout","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-10-08 09:33:25","lastupd":"2016-10-08 09:38:42","breadcrumbTags":["CAG","2G","Vinod Rai","spectrumauction2016","3G\/4G"],"secinfo":{"seolocation":"telecomnews\/spectrum-fiasco-overpricing-fallout"}}" data-authors="[" "]" data-category-name="" data-category_id="" data-date="2016-10-08" data-index="article_1">

Telecom乐动扑克News

光谱的惨败:过度高估后果

频谱的固有特性使得贪婪的罪恶

等局

更新2016年10月8日09:38点坚持

新德里:刚刚结束的电信拍卖是一个壮观的失败从的角度提高收入和销售提供。政府将把这个财政。56000卢比的目标。32000卢比的‘只’的频谱拍卖,不足43%。只有41%的2353 MHz的频谱可以出售。原因不难找到。这造成的打击,财政状况的直接结果是政府设置过高的底价700,800和900 MHz乐队,仍未售出除了提供800年的15%。底价是几倍的价格1 MHz的频谱在发达国家人均。政府必须从这个经验中学习,而不是让错误的设置高储备在未来的频谱拍卖价格。高底价是一个毫无根据的扭曲。

一个经常被引用的原因来证明高基础价格在拍卖是可能的起诉CAG了所谓的2 g骗局的报告CAG Vinod拉伊,2010年拍卖的结果来估计公允价值的光谱。这个理由不洗。随后的拍卖是在2012年,2013年,甚至2015年,公司不得不perforce出价高留在企业,揭示定价远低于2010年。即使没有概念修正要求,考虑到经济效益的低价光谱,包括更快的增长和更高的税收收入,因此,没有理由保持基础价格高。

竞争性投标程序会发现最优价格,如果不设置底价过高阻碍投标。不像煤或其他矿物质,光谱没有全球交易价格。它的值是locationspecific。谱也不习惯了,只是被反复使用,创造价值。频谱使用产生网络效应:网络上的人数越多,越多的价值被网络上的每一个人。保持低频谱价格,专注于扩大数字网络,最大化创造的价值和目标的值作为税收收入。

发布于2016年10月8日09:33点坚持

$\"\"$ NEW DELHI: The just-concluded telecom auctions are a spectacular failure from the point of view of raising revenue and selling what was offered. The government will get this fiscal . 56,000 crore it had targeted from . 32,000 crore of the ` only ` spectrum auctions, a 43% shortfall. Only 41% of the 2,353 MHz of spectrum offered could be sold. The reason is not far to seek. This self-inflicted blow to fiscal health is the direct result of the government setting too high a reserve price for the 700, 800 and 900 MHz bands, which remained unsold except for 15% of the offer in 800. The reserve price was several times the price of 1 MHz of like spectrum per capita in rich countries. The government must learn from this experience and not make the mistake of setting high reserve prices in future spectrum auctions. A high base price is an unwarranted distortion.
\n
A reason often cited to justify high base prices in auctions is possible indictment by the CAG<\/a> à la the so-called 2G<\/a> scam report by CAG<\/a> Vinod Rai<\/a>, which used the results of the 2010 auctions to estimate the fair value of spectrum. This excuse does not wash. Subsequent auctions in 2012, 2013 and even 2015, in which companies had to perforce bid high to stay on in business, revealed pricing far lower than in 2010. Even without the conceptual correction required, of taking into account the economic benefits of low-priced spectrum, including faster growth and the higher tax revenues that result, there is no justification for keeping the base price high.
\n
\nA competitive bidding process would discover the optimal price, if the base price is not set too high to thwart bidding altogether. Unlike coal or other minerals, spectrum has no globally traded price. Its value is locationspecific. Nor does spectrum get used up, it just gets used over and over again, creating value. Spectrum use generates network effect: the more the number of people on the network, the more the value of being on the network for everyone. Keep spectrum prices low, focus on expanding the numbers on the network, maximise the value created, and target a share of that value as tax revenue.<\/body>","next_sibling":[{"msid":54747956,"title":"We may be 6 months behind in 4G but market will grow gradually: Himanshu Kapania, MD, Idea","entity_type":"ARTICLE","link":"\/news\/we-may-be-6-months-behind-in-4g-but-market-will-grow-gradually-himanshu-kapania-md-idea\/54747956","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":54748000,"entity_type":"ARTICLE","title":"Spectrum fiasco: Overpricing fallout","synopsis":"Spectrum's inherent nature makes greed a sin","titleseo":"telecomnews\/spectrum-fiasco-overpricing-fallout","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2016-10-08 09:33:25","lastupd":"2016-10-08 09:38:42","breadcrumbTags":["CAG","2G","Vinod Rai","spectrumauction2016","3G\/4G"],"secinfo":{"seolocation":"telecomnews\/spectrum-fiasco-overpricing-fallout"}}" data-news_link="//www.iser-br.com/news/spectrum-fiasco-overpricing-fallout/54748000">