The Union Cabinet is said to have approved a relief package for Vodafone Idea Ltd., which is seen as smaller than expected. That sent the stock of the debt-laden telecom operator into a tailspin.
The government has frozen the AGR dues at ₹87,695 crore, while rescheduling the payment schedule from FY32 to FY41, PTI reported on Wednesday, citing sources. The AGR dues pertaining to FY18 and FY19—already finalised by a Supreme Court order of 2020—will be payable by Vodafone Idea over FY26 to FY31, without change.
The Telecom Department will also reassess the AGR dues frozen based on the “deduction verification guidelines” and audit reports. The outcome will be decided by a committee appointed by the government.
HT.com has not independently verified this information.
These steps will protect the interests of the government, which has about 49% stake in Vodafone Idea, as well as enable orderly payment of dues. At the same time, it will ensure competition in the sector and protect the interest of 20 crore Vodafone Idea customers.