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Modi government's spectrum math goes awry

The govt will receive Rs 65,789.12 cr from spectrum sale over a period, but will get just Rs 32,000 cr in the current financial year

Govt's spectrum math goes awry

The government will have to raise Rs 32,000 crore more to meet the fiscal deficit target of 3.5 per cent of gross domestic product (GDP) for 2016-17, as it will get just half of the Rs 64,000-crore it had budgeted for 2016-17 from spectrum sale. This prompted economists to say the fiscal deficit target for the current financial year was too stiff. Part of the shortfall from spectrum receipts could be filled by about Rs 15,000 crore that the government will get from a recent black money disclosure scheme. The other way out is to cut expenditure. But the government can do that only with ...