Reserve price for 2G spectrum was set too high, says Montek

A week after the damp squib 2G spectrum auction, Planning Commission Deputy Chairman Montek Singh Ahluwalia said that it was a mistake to set a high reserve price. The Government had set the reserve price at Rs 14,000 crore for 5 Mhz of pan-India spectrum. While bidders and analysts had criticised the high price, this is the first time a government functionary is accepting an error in decision making.

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