Centre’s announcement for telecom sector

New Delhi: A number of major decisions for the telecom and auto sectors were taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. The Union Government has approved a relief package for the telecom sector. In addition, 100 per cent foreign investment has been sanctioned in the telecom sector through automatic routes.

This was informed by Telecom Minister Ashwani Vaishnav. The Center has approved a four-year moratorium on arrears of telecom operators but operators will have to pay interest during the moratorium period. By changing the definition of AGR, non-telecom revenue will be excluded from it. The interest in AGR has been reduced to 2% per annum.

In addition, the penalty imposed on it has also been abolished. This will be a great relief to the telecom companies. The Union Minister said that KYC would now be fully online. There is no need to fill up any form for getting SIM or prepaid from postpaid. Digital KYC will be recognized for this. The documents provided at the time of getting the SIM will be digitized