Government sees Rs450 billion revenue from spectrum auctions

The government is likely to get Rs450 billion ($10.1 billion) from the auctions of 3G and wireless broadband spectrum, higher than earlier estimates of 350 billion, the telecoms minister said on Thursday.                                           

"So, it will be a good gain for the government," Andimuthu Raja told lawmakers in reply to a question.                                           

Government data showed on Wednesday bids for one pan-India third-generation spectrum licences rose to $1.5 billion on the tenth day of auction, meaning the government had ensured revenue of roughly $6 billion as it will sell 3G licences to four telecoms firms.                                           

The 3G auction is still on, and two days after it closes, the government will start auctioning broadband wireless access (BWA) spectrum.