INSUBCONTINENT EXCLUSIVE:
Government's decisions will help telcos to avoid an immediate outflow of over Rs 42,000 croreTelecom stocks are witnessing profit-booking
company of Reliance Jio, had inched lower by 0.5% at Rs 1537, on the BSE.Finance Minister Nirmala Sitharaman had announced late November 20
that the Cabinet approved deferring receipts due from Telecom Service Providers (TSPs) for spectrum payment for a period of two years
The deferral of spectrum dues payment for financial years, 2021 and 2022, and extension of payment instalments from 16 to 18 will help
telcos to avoid an immediate outflow of over Rs 42,000 crore
The government decision will help Bharti Airtel to prevent outgo to the tune of Rs 11,746 crore, while Vodafone Idea and Reliance Jio stand
AGR dues still holds as it is a legal issue and any extension can only be granted under the direction of Supreme Court
Going by the Supreme Court judgement, telcos owe Rs 1.47 lakh crore, including license fees (Rs 92,642 crore) and spectrum usage charge
to hike the tariff rates from December 1
Reliance Jio, the fully owned subsidiary of Reliance Industries, also announced similar plans, without indicating any timeline.(Except for
the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)Get Breaking news, live
coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
Catch all the Live TV action on TheIndianSubcontinent 24x7 and TheIndianSubcontinent India
Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.
