Cabinet may clear Telecom bailout package this week

Union Cabinet shall clear out rescue equipment for pressured out telecom companies later this week and would perchance encompass a staggered price schedule for the illustrious AGR (adjusted corrupt earnings) dues. High sources said the telecom division is within the formulation of making ready “bailout equipment” for the companies in tandem with officials within the Finance Ministry and Niti Aayog. The reduction is being worked out as the next date of hearing on the telecom topic comes up within the Supreme Court on March 17, by then the executive and the mobile operators want a roadmap for paying the large AGR dues.

“We’re enthused by the willingness of the companies to begin making payments in the direction of their illustrious AGR dues. Whereas the executive desires to abide by the orders of the Supreme Court, which remains the tip precedence, it also desires to make sure that there are no longer any monopolies which shall be created within the sector, and that each one the companies are given a viable likelihood to pay encourage the large dues,” considered one of many sources said.

The majority of the burden of the AGR dues has fallen on Vodafone Idea, which wants to pay Rs 53,000 crore nonetheless has managed to present easiest Rs 3,500 crore.

Airtel was asked to pay Rs 35,586 crore, has to this level paid Rs 18,004 crore (steadiness Rs 17,582 crore), while Tata group has to present Rs 13,823 crore nonetheless has paid easiest Rs 4,197 crore (steadiness Rs 9,626 crore).

The companies submitted their self-review numbers on the AGR dues and has disputed the telecom division’s demand notice.

Bailout equipment is seen as predominant for the companies to survive. Whereas Airtel has said that it desires to pay the cash demanded by the telecom division well prior to March 17, Vodafone Idea has made it distinct that this would perchance fail to compose the associated price if reduction equipment is never any longer extended.

Vodafone Idea Chairman Kumar Mangalam Birla has already met Finance Minister Nirmala Sitharaman and Telecom Minister Ravi Shankar Prasad on the topic.