India to sell phone airwaves worth 200 billion rupees

NEW DELHI Fri Dec 14, 2012 1:54pm IST

Sun rises over the telecommunication towers in New Delhi December 22, 2007. REUTERS/B Mathur/Files

Sun rises over the telecommunication towers in New Delhi December 22, 2007.

Credit: Reuters/B Mathur/Files

Related Topics

Stocks

   

NEW DELHI (Reuters) - The value of telecom airwaves to be put on auction in India in this fiscal year ending March will be worth about 200 billion rupees at the current reserve price, R. Chandrashekhar, telecoms department secretary, said on Friday.

India is betting on the revenue from phone airwaves auctions and stake sales in state-run companies to plug its widening fiscal deficit. The government raised less than a quarter of its 400 billion rupee target in last month's auction.

The government aims to conduct the next auction during the current fiscal year. It also plans to sell 900 megahertz band airwaves in a separate but simultaneous auction.

In the last month's auction, the government managed to get bids for parts of the airwaves it had put on block. (Reporting by Devidutta Tripathy; Editing by Jijo Jacob)

FILED UNDER:
  • Most Popular
  • Most Shared

Reforms Plan

REUTERS SHOWCASE

Border Talks

Border Talks

India names Ajit Doval as special envoy for China border talks.  Full Article 

WTO Deal

WTO Deal

U.S. seeks to step up India trade talks  Full Article 

Phone Masts

Phone Masts

American Tower to buy Bharti Nigeria phone masts for $1.1 billion  Full Article 

Infrastructure Plan

Infrastructure Plan

India targets private cash to build railways to its ports.  Full Article 

Shadow Banking

Shadow Banking

Reserve Bank planning more measures for NBFCs.  Full Article 

Auto Sector

Auto Sector

Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets  Full Article 

Oil Prices

Oil Prices

Some fund managers see oil falling to $60 without OPEC cut.  Full Article 

Project Shelved

Project Shelved

Jindal Steel shelves $10 bln project after coal setback.  Full Article 

Market Eye

Market Eye

Sensex, Nifty rise to record after China, ECB stimulus boosts risk appetite.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage