Senior officials from the Department of Telecommunications (DoT) and other key ministries recently held a meeting to discuss urgent relief measures for the indebted telecom industry.
As per industry sources, officials from NITI Aayog and finance ministry were present in the meeting.
The meeting reportedly focused on options before the government to provide much-needed relief to the adjusted gross revenue (AGR)-hit industry. While the DoT remained tight lipped after the government meeting, the finance ministry has reportedly objected to defer or waive a part of interest and penalty for the telecom industry.
Furthermore, it was proposed that public sector banks or other financial institutions or instruments may be used to provide emergency credit.