We have stalled various projects of national importance on one ground or the other; let us not do the same with Reliance's KG Basin gas.
Demand in 2012 was anticipated as 89 million tonnes; the rest of the capacity would help make India a major exporter of steel, rather than being a major exporter of iron-ore without any value-addition. That was then.
Previous experiments with auctions ended up disastrously and some of these regimes then had to be modified.
The lesson from telecom, FM radio and cable TV is that lowering licence fees increases usage and raises government revenues.