The Centre on September 15 approved the much-awaited relief package for the stressed telecom sector that includes a four-year moratorium on payment of dues by telecom companies and allowing 100 per cent foreign direct investment (FDI) under the automatic route. Announcing the decisions cleared at a Union Cabinet meeting chaired by Prime Minister Narendra Modi, Information Technology and Communication Minister Ashwini Vaishnaw said, “The reforms are deep and broad… structural… will bring in change today, tomorrow and in the future. I do not like to put a number on the package as it is revenue-neutral for the government.” He went on to add that the moratorium would not impact the government’s revenue. Incidentally, the government announced the package six weeks after Kumar Mangalam Birla resigned from the post of chairman of Vodafone Idea Limited, which was created following the merger of British telecom giant Vodafone’s India unit and Birla’s Idea Cellular Ltd.
Coronavirus
Senate Committee Confirms Garcetti nomination as US Ambassador to India
WASHINGTON, D.C. (TIP): Los Angeles Mayor Eric Garcetti, who played a key role in the city landing the hosting rights for the 2028 Olympic and Paralympic Games, has moved a step closer to being appointed […]
United States
CDC issues new eviction ban for most of U.S. through October 3
The new moratorium could help keep millions in their homes as the coronavirus’ delta variant has spread and states have been slow to release federal rental aid WASHINGTON (TIP): The Centres for Disease Control and […]
Be the first to comment