India's government announced on September 3 that it has set the terms for the long-awaited auction of 3G licenses, Dow Jones reported on August 27, citing Andimuthu Raja, India's Telecommunications Minister. Raja announced that the minimum bid price for each license is 35 billion Rupees (US$717.2 million; US$1 = 48.8 Rupees) instead of 20 billion Rupees (US$409.8 million) originally set in 2008. In addition, there will be four licenses available per circle and one license in each circle will be allocated for Indian telecom operator BSNL( Bharat Sanchar Nigam Ltd) or MTNL (Mahanagar Telephone Nigam Ltd). India's government expects the auction to be completed within 90 days, with a total value reaching around 250 billion Rupees (US$5.1 billion), according to the Economic Times of India.