New Delhi, June 11: The government’s revenue mop up from 3G and BWA spectrum auction beat all predictions at Rs 106,336 crore, over thrice the original estimates, that would also help reduce the fiscal deficit to 4.47 per cent in FY’11.
Of this, the government has already received Rs 67,719 crore from the successful bidders for 3G spectrum, while the Broadband Wireless Access (BWA) spectrum auction that ended today would contribute Rs 38,617 crore.
The successful bidders would have to make payment within 10 days of the final approval of the auction by the government.
Finance Minister Pranab Mukherjee had earlier projected Rs 35,000 receipts from the sale of spectrum and accordingly had kept the fiscal deficit at 5.5 per cent of GDP for the year 2010-11.
But, with a windfall of over Rs 71,300 crore, the fiscal deficit is expected to come down to 4.
–Agencies