In a bid to give alleviation to focused on telecom sector, the Union Cabinet on Wednesday has approved moratorium on payment of spectrum dues by telcos, sources told News18. This will give truly necessary opportunity to weak telecom operators like Vodafone Idea that need to pay a great many crores of rupees in unprovisioned past statutory dues.
Kumar Mangalam Birla, former chairman of Vodafone Idea Ltd, prior composed a letter to Cabinet Secretary offering his stake in Vodafone Idea to the government or any organization approved by the government for free. On August 4, billionaire Birla surrendered as chairman of beleaguered Vodafone Idea Ltd.
VIL, which was made from the consolidation of British telecom monster Vodafone’s India unit and Birla’s Idea Cellular Ltd, needs to pay about Rs 50,399.63 crore in statutory dues going back over past numerous years.
In general, the telecom relief package is probably going to outline changes for the area via conceding ban on unpaid dues, reclassifying AGR (Adjusted Gross Revenue) tentatively and cutting Spectrum Usage Charges, a source said.
The package, which at first was broadly expected to be taken up by the Cabinet last week, will offer a breather to the three private player industry, when VIL is facing existential emergency.
Sources said that the actions will be planned, and will make ready for changes in the area.
Some inside the public authority are, be that as it may, addressing utilizing citizen cash to bailout telcos who had neglected to arrangement for legal contribution during the pendency of legitimate cases.
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