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
Trending On Reuters
Religion and Politics
The head of India's most powerful Hindu group vowed to press ahead with a campaign to convert Muslims and Christians to Hinduism, stoking a sensitive debate that has stalled parliament and threatened Prime Minister Narendra Modi's economic reform agenda. Full Article