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Government's relief package for Telecom Sector | Key Takeaways
Posted
September 15, 2021
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178
September 15, 2021
178
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Sep 15, 202113:25Now PlayingThe Union Cabinet approved a relief structure for the telecom sector while announcing an outlay of Rs 26,000 crore for the automobile sector. The Telecom sector was hit last year by a Supreme Court ruling forcing carriers Bharti Airtel and Vodafone Idea to give in to a government demand for billions of dollars in dues which they have long contested. The relief package announced by the cabinet will include a moratorium on payments for airwaves. The announced scheme will be effective from FY23 for five years, with the base year being 2019-2020. Further, the non-telecom revenue will be excluded on a prospective basis from the definition of AGR. “I will call this a structural & process reform that has the potential to alter the Telecom landscape & the investor friendliness. Several of them were on the longstanding wishlist,” says Jaideep Ghosh, COO, Shardul Amarchand Mangaldas & co. Watch the video to understand the major takeaways from the announcement.
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