Telecoms fight to meet deficit goal, Rs 3000cr overdue

Indian Prime Minister Narendra Modi’s government is seeking at least Rs 3000 crores in overdue telecom fees from mobile-phone service providers to energy companies and fertilizer makers as it struggles to meet its budget deficit target with economic growth foundering.

Gujarat Narmada Valley Fertilizers & Chemicals Ltd. on Wednesday said the telecom ministry has ordered it to pay 150.2 billion rupees ($2.1 billion) by Jan. 23, more than 20 times the company’s annual profit. This follows a $3 billion demand from Vodafone Group Plc’s Indian unit, another $3 billion from Bharti Airtel Ltd., and reports that GAIL India Ltd. has been asked for $24 billion.