Modi govt unveils 'Master Plan' to challenge Ambani, Mittal dominance

Photo: PTI

The Modi government is getting ready to take a major step to help the telecom industry in India. According to recent reports, the government may offer big relief to telecom companies, especially in terms of AGR (Adjusted Gross Revenue) dues. This would be a huge help for companies like Vodafone Idea, which are struggling with debt.

After a Supreme Court decision in 2019, telecom companies like Vodafone Idea and Bharti Airtel were required to pay a lot of money to the government, including huge interest and penalties. The government is now considering a plan that could ease their financial burden. The plan includes potentially cutting 50% of the interest and completely waiving off the penalties, including the interest on those penalties.

If this proposal is approved, it could change the situation for telecom businesses in India. It would also help challenge the dominance of the two big private companies in the sector. The Centre is looking at providing financial relief of over Rs 1 lakh crore to the telecom companies.

Vodafone Idea stands to benefit the most from this proposal. The company owes the government thousands of crores, and under this plan, their AGR dues could be reduced by more than Rs 52,000 crore. Bharti Airtel could get relief worth about Rs 38,000 crore, and Tata Teleservices may receive around Rs 14,000 crore in relief. However, Reliance Jio has no AGR dues to pay. Tata Teleservices no longer provides retail services but focuses on enterprise mobility services.

The government is discussing this proposal at the highest levels, including with the Ministry of Finance, the Department of Telecommunications, and the Cabinet Secretariat. The government aims to announce this measure during the Budget presentation on February 1, according to reports.

Jan. 20, 2025 {{ Blogdetails.schedule_date|time }} 484

#trending #latest #ModiGovernment #TelecomRelief #VodafoneIdea #BhartiAirtel #AGRdues #TelecomSector #FinancialRelief #TelecomIndustry #SupremeCourtOrder #Budget2024 #TelecomCompanies #Jio #TelecomNews #TataTeleservices #DebtRelief #GovernmentSupport #TelecomPolicy #FinanceMinistry #TelecomGrowth #IndianTelecom #VodafoneIdeaRelief #breakingnews #trendingnews #DXBIndiaNews #BreakingNewsIndia #IndiaUpdates #GlobalIndiaNews #TrendingInIndia #DXBTrending #IndiaHeadlines #TopStoriesIndia #MiddleEastMeetsIndia #ViralIndiaNews #SouthAsiaNews #AllIndianews #breakingsportsnews #breakingPoliticalnews #breakingFinancenews #breakingregionalnews #Entertainmentnews #Educationnews #technologynews #DXBIndia