(MENAFN) The Indian government said it plans to raise USD10.2 billion through selling telecommunications airwaves as it seeks to narrow the budget deficit to a seven-year low, The Peninsula Qatar reported.
The government forecasts to earn USD25.18 million from an auction of dome of the spectrum before March 31, as the defence ministry will also ease additional airwaves for commercial use.
Finance Minister, who is preparing to present the budget for the financial year starting April 1, aims to cut the deficit to 4.1 percent of gross domestic product this financial year amid missed revenue goals.
India raised USD9.8 billion from an auction of wireless spectrum in February 2014 in which billionaire Mukesh Ambani's Reliance Jio Infocomm Ltd emerged as a competitor to Vodafone Group and Bharti Airtel Ltd.
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