Indian government targets $7.59 billion from telecoms sector

India’s new recently elected government is predicting it will raise approximately Rs 454.71 billion ($7.59 billion) from telecoms proceeds in the present fiscal year.

Led by Prime Minister Narendra Modi, India’s new government is targeting high growth from the telecoms sector through proceeds from the country’s pending airwave auctions.

India will also target growth from other communication services, including one-off spectrum charges through recommendations of the Indian Telecoms Regulatory Authority, an auction of 1800MHz and 900MHz spectrum and receipts from 800MHz.

India has not yet launched 4G services and development of the sector has been hindered in recent years over a 2G auction row. The previous government said it was aiming to raise Rs 389.54 billion in its interim budget in February, which Modi’s government has now revised.