Cabinet approves 4-year moratorium for telcos; 100% FDI allowed in telecom sector
Business | September 15, 2021 21:21 ISTUnion Cabinet approves 4-yr moratorium on payment of statutory dues by telcos; telcos to pay interest on moratorium period.
Union Cabinet approves 4-yr moratorium on payment of statutory dues by telcos; telcos to pay interest on moratorium period.
The government has been in talks with several stakeholders, including banks, for a package for the sector amid the concerns of a possible duopoly in the Indian telecom sector if Vodafone Idea shuts.
The government on Wednesday approved a Rs 12,195 crore production-linked incentive (PLI) scheme for telecom gear manufacturing in India, a move that will position the nation as a global powerhouse for production of such equipment ahead of 5G roll-outs.
Bharti Airtel Chairman Sunil Mittal on Thursday met Telecom Minister as AGR issue looms large on his company. After his meeting, Mittal described AGR crisis as "unprecedented" for Indian Telecom industry. Airtel has until March 17 to pay Rs 35,600 crore to the government as part of (Adjusted Gross Revenue) payment.
The divergence between Bharti's and Vodafone Idea's financial performance continued in 2QFY20, while Jio continued to report strong revenue and EBITDA growth. During 2QFY20, Bharti reported a 1 per cent rise in revenue and 3 per cent growth in like-for-like EBITDA quarter-on-quarter (q-o-q).
Addressing the media after the Cabinet meeting, Finance Minister Nirmala Sitharaman said that while the Centre will strategically disinvest Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and Container Corporation of India (CONCOR), it will sell its entire stake in THDC India Ltd and North Eastern Electric Power Corporation (NEEPCO) to another state-run power major, NTPC.
Indian telecom operators owe the government nearly Rs 1.47 lakh crore in license fee (LF) and spectrum usage charges (SUC), the communications ministry told Parliament Wednesday. According to sources, the move to defer payments for 2020-21 and 2021-22 will give Rs 42,000 crore relief to Bharti Airtel, Vodafone Idea and Reliance Jio.
As the telecom sector stares at a massive payout following a Supreme Court order, the government has created a Committee of Secretaries to work out a financial bailout package that may include lowering of spectrum charges as well as ending the era of free mobile phone calls and dirt cheap data.
The joint report by Indian Council for Research on International Economic Relations and Broadband India Forum also said that a 10 per cent hike in investment in the country's telecom sector may lead to an increase of 3.3 per cent in the country's GDP on an average.
Vodafone said there is continuous decline in its revenue from telecom services and it has recorded further decline of 3.41 per cent in the quarter ended June 2017
Communications Minister Manoj Sinha today said that the government is working on a new telecom policy which will be application driven as compared to National Telecom Policy, 2012, which was connectivity driven.
Telecom companies Bharti Airtel, Vodafone India, Idea cellular, Reliance Jio, Reliance Communications, Tata Teleservices, Telenor, BSNL and MTNL have all met the IMG and discussed the state of the sector.
Anil Ambani-led Reliance Communications is struggling to repay Rs 45,000 crore of debt to its lenders.
New Delhi: Telecom industry’s revenue grew 6.5 percent last year, the lowest since 2010, despite the sector witnessing a further addition of 79 million active subscribers during the period, says GSM industry body COAI. ”If
New Delhi: Notwithstanding the Indian economy’s steady growth, sectors such as telecom, engineering and electronics have witnessed a decline in employment rate over the last four years, says a report. ”The economic growth witnessed at
New Delhi: A special court on the 2G spectrum case Monday said it will deliver Oct 31 its order on the framing of charges over alleged laundering of money against former telecom minister A. Raja,
New Delhi: After registering a huge decline in the recent past, foreign direct investment in the telecom sector grew manifold to $2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the
New Delhi, July 17: In a clear signal to global investors that economic reforms will be fast-tracked and norms for inflow of overseas capital eased further, India Tuesday decided to hike the foreign direct investment
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