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India is betting on the revenue from phone airwaves auctions and stake sales in state-run companies to plug its widening fiscal deficit. The government raised less than a quarter of its 400 billion rupee target in last month's auction.
The government aims to conduct the next auction during the current fiscal year. It also plans to sell 900 megahertz band airwaves in a separate but simultaneous auction.
In the last month's auction, the government managed to get bids for parts of the airwaves it had put on block.
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