Telecom Ministry meets to offer reduction from AGR

by Jeremy Spirogis
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Highlights:

  • Telecom Ministry holds assembly to offer reduction from AGR

  • Vodafone thought AGR paid in 2 elements

  • Airtel paid Rs 10,000 crore from AGR quantity

  • DoT issued discover to Tata Teleservices

Raj Express In order to offer some reduction to the businesses by eradicating this sword named Adjusted Gross Revenue (AGR) which hangs on the pinnacle of the telecom firms, senior officers of the Telecom Ministry, Finance Ministry and NITI Aayog held a gathering on Sunday through which the principle difficulty of the telecom firms AGR was paid. <! –

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What occurred on this assembly:

According to reviews, the telecom ministry and others held a gathering to offer reduction to the telecom firms. However, even after this assembly, the ministry didn’t take any remaining resolution, however after this assembly some reduction information got here out that for telecom firms, the federal government can present comfortable loans at low rates of interest. At the identical time, it was additionally discussed on this assembly that, if telecom firms are shut down attributable to non-payment of AGR, just one firm can have a monopoly in India. And if not, cable will stay the one two telecom firms within the telecom market. Both these situations won’t augur properly for the telecom market.

Companies raised cash for AGR:

For the data, inform that, to pay the quantity of AGR, the troubled telecom firms are busy elevating cash with the assistance of insincerity. However, JIO has paid the quantity of its AGR. At the identical time, amongst different telecom firms, Vodafone Idea, Airtel and Tata Teleservices have paid little of their AGR quantity.

Vodafone Idea and Airtel's AGR:

Vodafone Idea has up to now paid AGR quantity in 2 elements. In which, for the primary time, on February 17, Rs 2,500 crore was paid and on the second time on February 20, Rs 1,000 crore was paid out of AGR quantity. Currently, the corporate nonetheless owes Rs 49,538 crore. Let me inform you, this quantity was earlier Rs 53,038 crore. Airtel has additionally paid some quantity from the cost of its AGR. Airtel paid Rs 10,000 crore from the AGR quantity to the federal government on 17 February.

Notice issued to Tata Teleservices:

At the identical time, the Department of Telecommunications has now issued a discover to Tata Teleservices for cost of AGR. Accordingly, the corporate must pay its AGR quantity in a day or two. Let us inform you that these firms need to pay the AGR quantity earlier than 17 March.

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