Relief to telecom sector: Cabinet gives nod to a two-year moratorium on spectrum payments

The Narendra Modi-headed Cabinet on Wednesday approved the recommendation of the Committee of Secretaries (CoS) on the relief to the stressed telecom sector, and allowed telcos a 2-year moratorium on spectrum-related dues.

“In view of the current fin stress faced by major telecom service providers and in pursuant of the recommendations by Committee of Secretaries, it is decided to defer receipts of spectrum auction installments due from the telecom service providers from the years 2020-21 and 2021-2022,” Finance Minister Nirmala Sitharaman Wednesday said.