In Major Relief For Telecoms, Government Defers Spectrum Payments

The government today offered relief to the country's stressed out telecom sector, which was under huge pressure to pay spectrum dues. At a meeting today, the Cabinet Committee on Economic Affairs approved the plan to defer spectrum payment - to the tune of Rs. 1.47 lakh crore - till 2022. The move comes days after finance minister Nirmala Sitharaman offered assurance to the companies, saying the government wanted to ensure that no company shuts operations due to financial unsustainability.