"Bids worth over Rs. 39,300 crore were received today. We are confident of exceeding the budget target," Telecom Secretary M F Farooqui told PTI.
The 2013-14 Budget has put a revenue target of Rs. 40,874 crore from spectrum sale for the fiscal year. The country's fiscal deficit atRs. 5.16 lakh crore has already crossed 95 per cent of budgeted target in the first nine months of FY14.
Bids for spectrum in 900 Mhz band were worth over Rs. 16,000 crore and for that in 1800 Mhz band were about Rs. 23,000 crore, a senior government official told PTI.