Centre makes ‘Master Plan’ to break dominance of Mukesh Ambani, Sunil Mittal; Jio, Airtel, Vodafone to…, Modi government decides…

New Delhi: The Modi govt is all put to steal a indispensable step for the telecom sector. According to the reviews, the Centre may provide foremost reduction to telecom corporations on AGR dues. This may likely earnings the debt-ridden Vodafone Idea essentially the most. Following the 2019 Supreme Court expose, telecom corporations love Vodafone Idea and Bharti Airtel owe immense amounts to the govt., which consist of mammoth pastime and penalties.

According to NBT narrative quoting sources, the Centre is additionally mulling a proposal to waive 50 p.c of the pastime and 100% of the penalties, including the pastime on penalties. If performed, this may occasionally likely ticket a serious turning level for the telecom enterprise in India. Additionally, it could actually drawl the dominance of the 2 vital private corporations in the telecom sector.

The narrative additional printed that if this proposal gets well-liked, telecom corporations will discover monetary reduction of over Rs 1 lakh crore. Vodafone Idea stands to earnings essentially the most from this, as the corporate owes the govt. thousands of crores. Under the proposed reduction, Vodafone Idea’s AGR dues will likely be decreased by extra than Rs 52,000 crore.

Bharti Airtel may bag reduction worth roughly Rs 38,000 crore, whereas Tata Teleservices may discover reduction of ₹14,000 crore. Reliance Jio, on the other hand, has no AGR dues. Tata Tele no longer provides retail products and companies but specializes in endeavor mobility products and companies.

Announcement Probably in Finances

The proposal is being discussed at the best ranges, including the Ministry of Finance, the Department of Telecommunications, and the Cabinet Secretariat. The government is working to explain this measure in the Finances on February 1, in accordance to the reviews.