The central government will find a solution to the issue of telecom dues, Revenue Secretary Tarun Bajaj said on August 9.
Bajaj's remarks, while speaking to CNBC TV-18, came shortly after the news channel reported that the Department of Telecom (DoT) cannot extend the moratorium unilaterally on spectrum dues.
To extend the moratorium, the nod from the Ministry of Finance would be required, the report said, citing government sources.
Nearly Rs 15,900 crore of non-adjusted gross revenue (AGR) spectrum dues became payable from April 2022.
The Ministry of Finance has reportedly shared concerns on the fiscal implication of the moratorium on spectrum dues. Previously, the government had allowed a moratorium on spectrum dues for FY2021 and FY2022.
Last month, Aditya Birla Group chairman Kumar Mangalam had written a letter to the Government of India in which he offered to hand over his stake in Vodafone-Idea (Vi) to any public sector entity considering the "looming crisis" before the telecom operator.
Birla had sought clarity on AGR, an adequate moratorium on spectrum dues and floor pricing adding that without immediate and active government support, Vi’s operations will be at an "irretrievable point of collapse".
The Supreme Court of India, on July 23, rejected Bharti Airtel, Vodafone Idea, and Tata Teleservices' application seeking re-computation of the adjusted gross revenue (AGR)–related dues.
In 2020, the apex court gave 10 years' time to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
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