Finance minister confident of raising Rs 40,000 crore from spectrum sale

NEW DELHI: Finance minister on Monday said he was confident of raising Rs 40,000 crore budgeted from spectrum sale in the current fiscal.

"We are confident and hope that we will collect the amount budgeted under the head non-tax receipts. If the auction process fetches us tidy amount and the excess spectrum which we intend to charge fetches us a tidy amount, we think we can collect Rs 40,000 crore," he said.

Asked about reservations on refarming of spectrum within the policymakers, he said: "Refarming does not bring any money this year. It is a decision that has to be taken by the EGOM in the first instance and perhaps by the Cabinet later. But refarming will start only after two years from today. So refarming does not bring money this year".