New Delhi: The central government has taken many big decisions for reforms in the telecom sector. After the cabinet meeting chaired by Prime Minister Narendra Modi, 100 per cent of foreign direct investment (FDI) has been approved in the telecom sector. This investment can come through the automatic route. Apart from this, many decisions have been taken for reforms.
Four-year moratorium approved
Giving information about the decisions taken by the cabinet, Telecom Minister Ashwini Vaishnav said that a 4-year moratorium has also been approved on the dues of telecom operators. But for this, they have to pay interest. Along with this, the government has taken many big decisions keeping in mind the interests of customers and increasing employment opportunities in the telecom sector.
The responsibilities of the telecom sector had increased significantly during the Corona period as data consumption, use of social media and virtual meetings had increased during this period. Even in this time of challenge, the sector has outperformed, although during this time some companies were buried under the economic burden, which expected a relief package from the government. The reforms being made now will further strengthen broadband and telecom connectivity in the coming era.
The monthly interest rate is now annual
Ashwini Vaishnav told that 9 major reforms have been done in the telecom sector. In this, the definition of AGR dues will be changed, as well as the monthly interest rate of companies has now been made annual. Apart from this, relief has also been given on fine. The duration of the spectrum has also now increased from 20 years to 30 years.
Along with this, the government has also approved 100 per cent FDI in telecom. Now foreign companies will be able to invest their entire shares in any company in India or can also buy an Indian company completely.