Business

Vodafone-Idea AGR: Modi government's 'master plan', preparation to end the dominance of Ambani and Mittal in the telecom sector

Vodafone-Concept AGR: Modi authorities is planning to make vital adjustments within the telecom sector. In line with experiences, the federal government is contemplating giving huge aid on AGR dues of telecom firms, the largest beneficiary of which could be Vodafone Concept.

Reduction to Vodafone Concept and Airtel

Following the Supreme Court docket order in 2019, firms like Vodafone Concept and Bharti Airtel owe big dues to the federal government, which incorporates big curiosity and penalty. In line with sources, the federal government is contemplating the proposal to waive 50 p.c curiosity and 100% penalty. If this proposal is applied, it may possibly convey a giant change within the telecom sector and problem the dominance of the 2 main non-public firms.

Vodafone Concept will get the largest aid

If this proposal is accepted, telecom firms might get monetary aid of greater than Rs 1 lakh crore. Vodafone Concept will profit probably the most from this proposal, as a result of the corporate owes 1000’s of crores of rupees to the federal government. Underneath the proposed aid, Vodafone Concept's AGR dues could also be diminished by greater than Rs 52,000 crore.

Airtel and Tata can even get aid

Bharti Airtel might get aid of about Rs 38,000 crore, whereas Tata Teleservices might get aid of Rs 14,000 crore. Nonetheless, Reliance Jio has no AGR dues and Tata Tele now not presents retail companies, however focuses on enterprise mobility companies.

Announcement could also be made within the funds

This proposal is being mentioned on the highest ranges within the Finance Ministry, Division of Telecommunications and Cupboard Secretariat. In line with experiences, the federal government is planning to announce this measure within the funds on February 1.

Additionally Learn: Meta's entry amid TikTok ban, created a stir by bringing new app 'Edit'

Disclaimer: Prabhat Khabar doesn’t give any recommendation for any shopping for or promoting associated to the inventory market. We publish market associated analyzes quoting market consultants and broking firms. However take market associated choices solely after consulting licensed consultants.

Click Here To Join Our Telegram Channel

When you have any issues or complaints concerning this text, please tell us and the article might be eliminated quickly. 

Raise A Concern

Show More

Related Articles

Back to top button