The finance ministry has pinned its hopes on a windfall gain from spectrum auction to wriggle out of the impending fiscal hole, after being unable to push forth any disinvestment issues in the first quarter of 2012-13. On Thursday, the Cabinet also deferred a proposal to divest 10.82 per cent stake in state-run Steel Authority of India Ltd.
Sources indicated that the government could get an additional bonanza of at least Rs 15,000 to Rs 20,000 crore from the sale of airwaves in the current fiscal.
“We will get to the actual realisation from disinvestment proceeds towards the end of the year. But going by the 3G auction results in 2010-11, we are hopeful that the auction this time too will bring in enough to bridge the deficit, if required,” a senior finance ministry official said.