2G auctions to fetch under half of govt’s Rs 45k-cr target

With Videocon pulling out of the CDMA auctions last week, the government just lost a potential Rs 6,500 crore of revenues in the forthcoming 2G auctions. Videocon had deposited money for nine possible CDMA circles and for a likely total of 26 slots. Along with the very low interest shown by both existing and new GSM mobile players, it’s likely that next week’s auctions will not fetch the government more than half the Rs 45,000 crore it was budgeting for.

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