Sumary of Towards Aatmanirbhar Bharat: Mega Boost for Auto, Drone, Telecom Sector | Key Points:
- The Cabinet-approved relief package includes a provision that allows telecom companies to convert interest on their spectrum dues, which amount to a four-year moratorium, into government stock.
- The plan could herald an end to telecom companies’ long-standing financial difficulties, as well as their inability to pay thousands of crores of rupees in spectrum fees to the government.
- Main Points:• AGR definition has been rationalised to exclude non-telecom revenues prospectively• Cabinet approves moratorium of 4 years on telecom dues• 100% FDI in telecom to be allowed under automatic route• Spectrum user charges rationalised.
- Spectrum can now be surrendered, spectrum can also be shared Spectrum auction calendar to be created.
- Incentives worth Rs 26,058 crore will be provided to industry over five years, the minister told reporters after the Cabinet meeting.