Relief for Telecom Sector: Cabinet Okays 4-Year Moratorium on AGR Dues, 100% FDI

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The Union Cabinet on Wednesday, 15 September, approved a relief package for the financially-strapped telecom sector, a move that will benefit companies such as Vodafone Idea, Bharti Airtel, and Reliance Jio.

"In the telecom sector, nine structural reforms and five process reforms have been approved by the cabinet. These reforms will change the framework of the entire telecom sector. They will deepen and broaden the industry," Union Minister for Communications Ashwini Vaishnaw said at a press conference, news agency ANI reported.

The reforms proposed under the package include the granting of moratorium on unpaid dues, redefining AGR prospectively, and cut in Spectrum Usage Charges, as per PTI.

"PM took a bold decision over AGR (adjusted gross revenue) today. A decision has been taken to rationalise the definition of AGR. All non-telecom revenue will be taken out of AGR," Vaishnaw was quoted as saying by ANI.

(With inputs from ANI, PTI)

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