Budget Reaction: PwC India

"Of the Rs 40,000 crore revenue expectation from the industry, we feel confident that at least Rs 20,000 crore can be expected from license fees, and it is conceivable that the Government could raise around Rs 10,000 crore from spectrum extensions and renewals. However, we are unclear as to how much could be raised from auctions of fresh blocks of spectrum, so in our view around Rs 10,000 crore of the government's revenue objectives may be at risk."

---Mohammad Chowdhury, Leader Telecom, PwC India