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Cabinet briefing: 9 structural, 5 process reforms approved for telecom; telcos to get 4-year moratorium on AGR dues

Sep 15, 2021, Updated Sep 15, 2021, 3:50 PM IST

The PM Narendra Modi-led Cabinet has taken key decisions to provide much-needed relief to the telecom and auto sectors

Union Minister for I&B and Youth Affairs & Sports Anurag Thakur Union Minister for I&B and Youth Affairs & Sports Anurag Thakur

Union ministers Ashwini Vaishnaw and Anurag Thakur are holding a press conference to brief the media regarding decisions taken during the Union Cabinet meeting held today. The Prime Minister Narendra Modi-led Cabinet has taken key decisions to provide much-needed relief to the telecom and auto sectors.

Follow BusinessToday.In live blog for all the latest updates on Cabinet announcements.

 

3:50 PM (1 week ago)

Penalty removed in case of spectrum charges

Posted by :- Manoj Sharma

In case of spectrum, there was a regime of heavy interest, penalty, interest on penalty on payment of license fees. Penalty has been completely removed; instead of monthly compounding of interest, annual compounding to be done.

 

3:46 PM (1 week ago)

Telcos to get 4-year moratorium on AGR dues

Posted by :- Manoj Sharma

Moratorium to start from October 1. MCLR (Marginal Cost of Funds based Lending Rate) + 2 per cent interest to be paid by those who avail of moratorium. Adjusted Gross Revenue and spectrum dues all covered under the moratorium.   

3:39 PM (1 week ago)

Key Cabinet decisions for telecom sector

Posted by :- Manoj Sharma
  • AGR definition rationalised
  • Spectrum/charges regime with interest and penalty rationalised.
  • Annual compounding of Interest and penalty abolished
  • 30-year spectrum auction fees instead of 20 years
  • Spectrum sharing is free now
  • 100 % FDI through automatic route in Telecom
  • 300-400 Crore forms stuck in warehouses.
  • All KYC to be digitised
  • Auction calendar to be put in place
  • Post paid to Prepaid for KYC not required
  • A 1953 Customs notification has been amended which makes it easy for import of equipment
  • 4G, 5G Core network technology to be designed in India and Manufactured in India
  • Moratorium to start from 1 Oct
  • AGR and spectrum dues all covered under moratorium
3:36 PM (1 week ago)

Nine reforms taken in telecom sector

Posted by :- Manoj Sharma

Total nine structural reforms and five process reforms have been approved for the telecom sector. "These reforms will change the framework of the entire telecom sector," says Ashwini Vaishnaw.

3:35 PM (1 week ago)

AGR definition rationalised

Posted by :- Manoj Sharma

Minister for Communications Ashwini Vaishnaw says Prime Minister Narendra took a bold decision over AGR, in which a decision to rationalise the definition of AGR has been taken. Now, all non-telecom revenue will be taken out of AGR, he said.

3:26 PM (1 week ago)

Big announcements for telecom sector

Posted by :- Manoj Sharma
  • Non-telecom revenue won't be included in AGR definition prospectively.
  • 100% FDI in telecom via automatic route approved
3:25 PM (1 week ago)

AGR definition rationalised

Posted by :- Manoj Sharma

AGR definition rationalised, non-telecom revenue not to be included in it, says Telecom Minister

3:16 PM (1 week ago)

Scheme for auto sector & drone industry

Posted by :- Manoj Sharma

Provision of Rs 26,058 Crore for PLI Schemes for Auto, Auto component Industry and Drone Industry; Rs. 25,929 Crore for Auto sector and Rs 120 crore for Drone Industry.

 

3:12 PM (1 week ago)

PLI scheme approved in auto, drone industries

Posted by :- Manoj Sharma

 

3:11 PM (1 week ago)

PLI scheme approved in auto, drone industry: Anurag Thakur

Posted by :- Manoj Sharma
  • Today, the govt has approved PLI scheme in the auto and drone industry
  • Over Rs 26,058 cr allocated for both these sectors for the next five years
  • Above Rs 25,000 cr allocated for the auto sector under this scheme  
  • 120 crore for the drone sector
2:58 PM (1 week ago)

Cabinet briefing starts shortly

Posted by :- Manoj Sharma