Veteran telecom company Bharti Airtel has chosen Vodafone Idea for AGR (Adjusted Gross Revenue) and spectrum dues. Airtel has informed the Department of Telecommunications (DoT) in this regard that it is opting for a four-year moratorium for payment of AGR and spectrum dues. After opting for the moratorium, there is no obligation to pay the dues for the period. According to the information, Bharti Airtel had sent its acceptance letter in this regard to DoT on Friday itself. Last week Vodafone Idea informed DoT about opting for a four-year moratorium for payment of spectrum dues. However, Voda-Idea had said that the board would take a decision in this regard by October 29.
Elon Musk ridiculed Apple’s polishing cloth of Rs 1900, know what is the whole matter
Airtel will get 40 thousand crore relief
Some time ago, in a conversation with Financial Express, Sunil Bharti Mittal, chairman of Bharti Airtel had said that choosing the four-year AGR and spectrum payment moratorium will provide a relief of Rs 35 thousand-40 thousand crore. Mittal said that this will help in reducing market debt and the savings of Rs 40,000 crore will be invested in 5G network etc. Mittal said that the savings that will be made will not go to the dividend part, but will be invested in technology, that is, in a way, the money has to come back to the industry itself.
Will the name of Facebook change? Possibilities expressed in a report, know why this is being discussed
October 29 was the deadline
The DoT recently gave time till October 29 to Airtel, Voda-Idea and Tata Communications to opt for the moratorium. These companies were given time till October 29 to state whether they want moratorium for spectrum and AGR dues. Apart from this, telecom operators have been given 90 days after October 29. In these 90 days, she has to confirm whether she wants to convert the payment interest into equity. The moratorium is part of the government’s revival package for the telecom sector under which it has been proposed to provide relief in cash flow to telcos facing financial stress and redefine AGR and remove spectrum usage charge in future auctions.
(Article: Kiran Rathee)
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.