Well a market crash affects everyone and even though Jet airways may have hived off and then called back its 1900 employees that in no way means that the worst is over yet! Looking at the current market scenario even Minister of Communications and IT seems to be reconsidering whether its the right time for a 3G auction? He said “I have to discuss with the finance minister whether the atmosphere prevailing right now is conducive for an auction”

Though inorder to reaffirm their commitment to rollout 3G he said “But we are not slowing down any action, it is going on”

Now december was to be the time when the global auction of radio spectrum for third-and fourth-generation (3G and 4G) wireless services in india were to take place and it surely would have been a money spinner as the government hoped to raise up to 400 billion rupees ($8.2 billion) for this auction.

Even now the goverment isn’t saying that the auction wont happen but it surely is reconsidering the same given the economic conditions. Though it seems unlikely that the government would allow installment based payments inorder to buy the spectrum as reported by economic times earlier.

Lets wait and watch over the next few days on how the situation changes.

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