The other major factor, for the tepid response to 2G spectrum, was that 3G spectrum, which was not in existence in 2008, is available now and 4G is also going to be in place soon, Yechury said.

"Both the government and the corporates have vested interest in keeping the (2G spectrum) prices low. They want the auction of excess spectrum to be held in low prices. The lower the prices, the better it is for the corporates. It is a collaboration between the government and the corporates," he said.

The CPI(M) leader said the government could have got better prices had it waited for some more months as the market would expand "only when data accessibility (on mobiles) increased. Now mobiles are used more for voice facilities."

Yechury's comments came as Telecom Minister Kapil Sibal said the Empowered Group of Ministers, headed by Finance Minister P Chidambaram, will meet soon to decide on price and date for auction of spectrum in circles like Delhi and Mumbai.