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The Government today said it expects to garner Rs 1,500 crore in revenue from the auction of FM Radio Phase III license for providing services in 227 cities, in addition to 86 cities covered currently.
“The total revenue expectation from three phases of (Phase III) FM radio auction is Rs 1,500 crore. They (Finance Ministry) have given estimates for the first phase, which is Rs 500 crore,” the Information and Broadcasting Secretary, Mr Uday Kumar Verma, told presspersons on the sidelines of the CASBAA India Forum 2012.
“The auction will be conducted in phases. We will complete the first phase by the end of this year,” Mr Verma said.
The Phase I and Phase II auctions led to total revenue accrual of about Rs 1,733 crore up to May 31, 2011, by way of a one-time entry fee, migration fee and annual fee, among others.
The Phase III license would extend FM radio services to about 227 new cities, in addition to the present 86 cities, and would result in coverage of all cities with a population of one lakh and above through private FM channels.
In its Budget proposals for 2012-13, the Government said last week that it had estimated to raise non-tax revenue of Rs 1,600 crore from the auction of the FM phase III license, but the auction has not materialised so far.
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