India to sell phone airwaves worth 200 billion rupees
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)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Comedian Joan Rivers remains in serious condition at N.Y. hospital
- Exclusive: Reliance plans $13 billion projects including new refinery
- Ukraine seeks to join NATO; defiant Putin compares Kiev to Nazis
- Swedish carrier backs out as first Bombardier CSeries operator
India's economy grew by a faster-than-expected 5.7 percent in the three months through June, its fastest pace in two-and-a- half years, helped by a rebound in manufacturing and mining sectors, government data showed on Friday. Full Article
Exclusive: Reliance plans $13 billion projects including new refinery. Full Article
In race for bigger margins, drug makers willing to lose the India "advantage". Full Article