May 20, 2010 8:49 AM

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Sale of 3G Spectrum to get almost double the expected revenue for the Government; over 67 thousand crore rupees

Auction for allocation of 3G Spectrum ended on Wednesday which will help the government get over 67,700 crore rupees. The government had initially expected a revenue of 35 thousand crore rupees from the auction of 3G Spectrum. <br/><br/>The online auction went on for 34 days and there was intense bidding of 183 rounds. <br/> The price per block of a Pan India spectrum was 16,750 crore rupees. <br/><br/>The Delhi circle was the costliest one with all the three successful bidders agreeing to pay over 3,300 crore rupees for it. Mumbai circle went for about 3,247 crore rupees. <br/><br/>Telecom operators have expressed confidence that consumers will soon be able to enjoy high-speed data services on their mobile phones with the successful completion of 3G auctions. <br/><br/>Reacting to the 3G auctions, Finance Minister Pranab Mukherjee has said that additional revenue of over 32 thousand crore rupees will provide him elbowroom. <br/><br/>The revenue mop up will help the government cut its fiscal deficit this year, which has been projected, at 5.5 per cent of the GDP.<br/>

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