Govt set to raise Rs 61,162 cr from spectrum auction

India is set to raise about Rs 61,162 crore from the auction of telecommunication spectrum, said Telecoms secretary M F Farooqui, far exceeding the government's target as it tries to narrow its budget deficit. Eight companies, including Bharti Airtel Ltd, Vodafone Group Plc's India unit and Reliance Industries Ltd, had applied to bid in the auction of 900 megahertz and 1800 megahertz band airwaves.