The Indian government expects to raise around INR400 billion (US$7.95 billion) from the sale of 2G spectrum according to the federal budget for the upcoming fiscal year, reports Dow Jones Newswires. The spectrum sale is the result of the Indian Supreme Court cancelling 122 2G licences issued in 2008 after the allocation process was deemed to have been uncompetitive. The increased non-tax revenue will be welcomed due to the current pressure on tax income.
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