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Have taken several steps to help telcos, consumers: Govt
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Analysts have warned that Vodafone Idea (Vi) may be bound for the bankruptcy court, a scenario that would reduce the telecom sector to a duopoly, especially as the loss-making telco’s legal options for any further recourse on the AGR front appear to have almost run out after the nation’s top court denied it any relief on the statutory dues front.
Vi, hit hardest by the apex court ruling, faces dues of Rs 58,254 crore as calculated by the government.
The government said it has several steps to protect the interests of telcos and consumers, including 100% FDI, a two-year moratorium on spectrum payments, more time to pay for airwaves bought in auctions and mandating the sector regulator to ensure service quality.
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Telcos sustain growth but FY21 revenue still away from FY16 peak India’s mobile operators are back on the growth path and their combined net sales were up 11.9 per cent in FY21. With this, the industry’s total revenues are up 33.6 per cent from FY18. But, the telecom industry is yet to fully recover from the disruption caused by the entry of Reliance Jio in 2016. Its combined revenues last fiscal were still 16.5 per cent lower than its peak revenues in FY16. Telecom operators such as Bharti Airtel, Reliance Jio, Vodafone Idea, and BSNL reported a combined net sales of Rs 1.87 trillion in FY21 against peak revenues of Rs 2.24 trillion during the financial year ended March 2016. Read more