The soaring price for 3G spectrum comes as a good sign as the Indian Government is expected to surpass the initial revenue estimates in no time.

The current facts state that bidding for 3G in India is about to touch Rs. 90 billion (about $2 billion) which took off with an initial Rs. 35 billion, claimed the sources. It is believed that after 94 rounds of bidding the amount has risen by 155 percent.

In total, there were nine cellular phone operators for the 3G bidding some of which include Bharti Airtel Ltd., Reliance Communications Ltd., Vodafone Essar Ltd. and Idea Cellular Ltd.

The government seems confident to gather a minimum of Rs. 4,500-5,000 crore by the end of this auction. But at the current pace, it appears that the government may surpass the revenue at the initial phase itself.  Communications Minister A. Raja stated that the government is very much seeking for higher prize money i.e., close to Rs. 55,000 crore from the ongoing auctions of radio frequency spectrum of 3G and for the broadband wireless Internet services.
 
Following the bidding successful bidder will be able to proffer 3G services from September 1 commercially. As the 3G spectrum auction may take about two-three weeks to complete.