INSUBCONTINENT EXCLUSIVE:
The relief package will provide relief to Reliance Jio, Bhari Airtel and especially Vodafone Idea
The centre has cleared a relief package for the embattled telecom sector, in a move to
provide relief to companies weighed down by huge Adjusted Gross Revenue
(AGR) dues
The package would provide relaxation to telecom companies on payment of their long outstanding dues, including a four-year moratorium on
spectrum installment which is due in April 2022, and discontinuation of spectrum usage charges
The telecom companies may also get an option to convert interest on their spectrum dues amounting to four-year moratorium, into equity
The relief package will provide relief to India's three major wireless carriers, i.e
Reliance Jio, Bharti Airtel and especially Vodafone Idea
Vodafone Idea, which was created from the merger of British telecom giant Vodafone's India unit and Birla's Idea Cellular, owes Rs
50,399.63 crore in statutory dues to the government.The telecom sector was hit by the Supreme Court ruling last year, making it mandatory
for Bharti Airtel and Vodafone Idea to pay their pending dues to the government
The telecom companies, including Bharti Airtel, Vodafone Idea and Reliance Communications, owed around Rs 92,000 crore to the government as
license fee and Rs 41,000 crore as spectrum usage fees, according to the telecom department.Earlier in 2016, the telecom sector saw an
Birla's Idea Cellular into Vodafone Idea.Kumar Mangalam Birla, former chairman of Vodafone Idea, wrote to the cabinet secretary in July,
offering his stake in Vodafone Idea to the government or any company approved by the government for free
And on August 4, Mr Birla resigned as the chairman of Vodafone Idea.Earlier this week, banks led by State Bank of India called on the
government to give Vodafone Idea more time to clear its tax dues.
