COAI raises AGR issue, seeks cut in levies at meeting with FM

New Delhi: Amid mounting financial woes of the telecom sector, industry body COAI raised the issue of adjusted gross revenue and sought cut in levies like licence fee and spectrum usage charges during a meeting with Finance Minister Nirmala Sitharaman on Friday.

The industry has also asked the government to create an infrastructure bank that will raise tax-free bonds, the proceeds of which can be used to lend to the companies at lower rates, Rajan Mathews, Director General of Cellular Operators’ Association of India (COAI) said after a pre-budget meeting with the FM.

The industry has also raised the issue of adjusted gross revenue (AGR) and higher levies during the meeting, Mathews said.