Govt approves relief package for debt-ridden telecom sector

Govt approves relief package for debt-ridden telecom sector

India’s telecom industry is highly stressed due to intense competition from new entrant Reliance Jio and spectrum auction payments. Photo: Indranil Bhoumik/Mint New Delhi: The government on Wednesday approved a relief package for the stressed telecom sector, easing spectrum-holding caps and extending the payment period for spectrum acquired in auctions to 16 years from 10 years. While the change in spectrum caps is expected to aid telecom sector consolidation, allowing operators to settle their dues to the government over a longer time period will boost cash flows of operators. The earnings…

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