Speaking to reporters after a meeting of the Group of Ministers (GoM), Finance Minister P Chidambaram expressed hope of getting revenues from somewhere to control fiscal deficit within 5.3 percent of GDP.
He remarked that there is still some time left in this financial year for carrying out disinvestment and auctioning of spectrum in the unbid circles.
It is learnt that the EGOM on telecom will meet shortly to deliberate on the remaining auctions which are the unbid circles from GSM, CDMA and spectrum refarming and on disinvestment process.
EGOM on telecom would discuss all the issues related to telecom auctions including the future reserve price and also consider the experience from the last spectrum auction.
Chidambaram expressed hope that there would be some net gain to the government from the telecom auctions and the exact amount would only be known once all the auctions are over.
Telecom Minister Kapil Sibal said as of now government has Rs 17,343 crore net gain from the 2G auctions, which include the market determined price and also the one-time fee.
Meanwhile, on general economic conditions, Chidambaram said the economic conditions are challenging and eurozone has formally entered into recession, but India is confident of a growth pick up in the third and fourth quarter of this financial year.
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