Cabinet Approves 10,523 MHz Spectrum Auction, New Fisheries Sub-Scheme
A Committee of Secretaries is also expected to be formed, which will re-farm existing spectrum usage to increase the spectrum availability.
The Union Cabinet announced its approval for 10,523 MHz spectrum auction this fiscal, with a reserve price of Rs 96,317 crore.
The auction will be held for spectrum in 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz frequency bands, with a validity period of 20 years, according to a press note issued on Wednesday evening.
This includes spectrum held by companies undergoing insolvency that are expiring in 2024. Details on the companies and size of spectrum that will be made available from these companies were not disclosed.
A Committee of Secretaries is also expected to be formed, which will re-farm existing spectrum usage to increase the spectrum availability, the release said.
Addtional Cabinet approvals include a new sub-scheme under the Pradhan Mantri Matsya Sampada scheme—called the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana.
The scheme's intent, as conveyed by Union Minister Anurag Thakur on Wednesday is to formalise the fisheries sector and support fisheries micro and small enterprises, with an investment of over Rs 6,000 crore over the next four years (from FY24 to FY27)
The estimated outlay of Rs 6,000 crore will be funded 50% by external funding from the World Bank and the AFD, while the remaining 50% is anticipated investment from the beneficiaries or through private sector leverage.
The scheme aims to provide institutional credit, insurance, standardise quality of products, and strengthen supply chain, Thakur said.
In another move intended towards the fisheries sector, the Cabinet also approved an extension of the Fisheries Infrastructure Development Fund for another three years till FY26. This is expected to be accomodated within the already approved fund size of Rs 7,522.48 crore and a budgetary support of Rs 939.48 crore.
The Cabinet Committee on Economic Affairs, which also met on Wednesday, approved six multi-tracking projects across Indian Railways in six states, covering 18 districts in Rajasthan, Assam, Telangana, Gujarat, Andhra Pradesh and Nagaland.
The railway project is estimated at approximately Rs 12,343 crore and will be fully funded by the central government to extend the existing network of Indian Railways by 1,020 km.
