New Delhi, Jan 30 (IANS) The Government is considering scrapping the 16-year instalment policy for spectrum purchase.
This follows a conclusion that past spectrum instalments were unsecured and they ranked below secured dues.
Sources said the government was yet to receive Rs. 3 lakh crore on part instalments from various telecom companies like Vodafone Idea and Bharti Airtel which were mounting.
The thinking in the government is how it can provide an instalment window of unsecured credit on tap for telcos to buy spectrum.
Last March, the government had enhanced the period of instalment payments from 10 years to 16. Vodafone Idea had earlier this month sought an extension of two years to pay their Spectrum payments. The amount to be paid by Vodafone Idea is estimated to be around Rs. 10,000 crore this year.
In November, the Cellular Operators Association of India also approached the Telecom department to seek an additional two-year moratorium on payment of instalments and interest charged upon them.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz