DoT plea to seek 20 year time for payment of AGR gets cabinet approval

The department of telecom’s plea seeking 20 years time for operators to pay adjusted gross revenue (AGR) dues was approved by the Cabinet, Union minister Sanjay Dhotre informed Parliament on Thursday.
The Supreme Court will hear the government’s rescue plan of giving telcos a 20-year repayment period for AGR dues during the next hearing scheduled after two weeks.
“Consequent to the approval by the Cabinet, an application has been moved before the Hon’ble Supreme Court on March 16, 2020, seeking, inter-alia, permission of the Hon’ble Court for the licensees impacted by the AGR judgement to pay the unpaid or remaining to be paid amount of past DoT assessed/calculated dues in annual instalments over 20 years duly protecting the net present value of the said dues using a discount rate of 8 per cent,” the minister of state for communications told the Rajya Sabha in a written reply.