Cabinet approves relief measures for telecom sector
The Hindu
The Union Cabinet has also approved 100% foreign direct investment through automatic route in the telecom sector.
The Union Cabinet has approved nine structural reforms and five process reforms for the telecom sector, aimed at giving relief to companies such as Vodafone Idea that have to pay thousands of crores in unprovisioned past statutory dues.
The wide set of measures proposed entail reforms for the ailing sector by way of granting moratorium on unpaid dues, redefining adjusted gross revenue (AGR) prospectively and cut in Spectrum Usage Charges.
Telecom Minister Ashwini Vaishnaw said non-telecom revenue will be taken out of AGR. “PM took a bold decision over AGR (adjusted gross revenue) today. A decision has been taken to rationalise the definition of AGR,” he told the media after the Cabinet meet.
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