The government is set to finalise an auctioneer for e-auction of FM radio Phase III and invite proposals from interested parties in a month's time. Ministry of Information and Broadcasting Additional Secretary Rajiv Takru said in New Delhi today, the Request for Proposal, RFP, will be floated in maximum of four weeks and an auctioneer will be selected after that. He said the RFP is ready and comments from various ministries are being sought on it.

The government expects to garner 1,500 crore rupees in revenue from the auction of FM Radio Phase III licence, for providing services in 227 cities, in addition to 86 cities covered currently.The Phase I and Phase II auctions led to total revenue accrual of about 1,733 crore up to May 31, 2011 from one time entry fee, migration fee and annual fee, among others.