Budget 2015: Govt to fetch about Rs 428.66 bn from telecom in FY16

NEW DELHI: According to the annual budget, the Indian government is hoping to fetch revenues worth Rs 428.66 billion ($6.95 billion) from the telecom sector during the next fiscal year.

The revenues also include the amount raised from the spectrum auction. The estimates include revenue from the annual fees telecoms carriers pay to the government.

The bidding for the spectrum auction is set to begin on March 4, from which government expects to raise more than $13 billion. The government expects to raise $3.5 billion of that during the current fiscal year that ends in March.

The government is likely to manage its yawning fiscal deficit with the amount raised from the auctions.