Budget 2022: India to offer 5G services in FY23, to hold auctions soon, says FM
Live MintIndia’s telecom sector will get a 5G push under the Union Budget with the government focusing on starting 5G mobile services and spectrum auctions in the next fiscal besides a performance-linked incentive scheme for 5G design-led initiatives. This even as the government expects to earn ₹52,806.36 crore from licence fees and spectrum charges in FY23 despite the spectrum auctions, sharply lower than this fiscal’s ₹71,959 crore. Required spectrum auctions will be conducted in 2022 to facilitate rollout of 5G mobile services within 2022- 23 by private telecom providers,” finance minister Nirmala Sitharaman said. “The government’s move to launch a design-led manufacturing scheme as part of PLI will help to position India as a hub for 5G equipment manufacturing and exports,” EY’s Singhal said, noting that it presents potential opportunity for stakeholders since in the next three to four years, the global 5G capex is expected to reach $550 billion, cumulatively.