1 min read.Updated: 06 Feb 2014, 02:01 PM ISTLivemint
Money from spectrum auctions or privatizations should be used to build new capital assets
The success of the latest auction of telecom spectrum should help the finance minister P. Chidambaram in his tough battle to keep the fiscal deficit within the level he had budgeted for in February 2013. This bonanza is perhaps the main reason why the Reserve Bank of India (RBI) decided on Wednesday to cancel a scheduled bond auction, citing the government’s “cash position and funding requirement".
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