India to Raise More than $5 billion from 3G Auction

India's telecommunications minister expects the government to raise at least 250 billion Indian rupees (5.25 billion US dollars) from the auction of 3G spectrum, which is scheduled to take place before the end of 2009, according to Dow Jones. In its February budget, the government had forecast the auction would raise 200 billion rupees. source: Dow Jones/Total Telecom