The government will auction 2,251.25 megahertz of spectrum by March across seven frequency bands but not the much coveted 5G spectrum — at an aggregate base price of Rs 3.92 lakh crore as the Narendra Modi-government looks to boost its revenues left dry by the pandemic. The Union cabinet on Wednesday approved the sale, the first in four years. The telecom ministry plans to issue a notice to invite bids in December and hold the sales by March, telecom minister Ravi Shankar Prasad told reporters after the meeting. In Union Budget 2020-21, the government had targeted revenues of Rs 1.33 lakh crore from telecommunication services, which include spectrum auction proceeds, licensing fees and other receipts.