The telecom regulator has proposed a steep minimum price for spectrum raising hopes of fiscal bonanza for the cash-strapped government but evoking fears that higher costs would be passed on to consumers. The regulator's recommendations, which are not binding on the government, sent shockwaves through the telecom industry and were severely criticised by lobbies representing cellular operators offering services based on GSM and CDMA technologies who said they had the potential to "derail the industry".