The Business Bytes
TBB BUREAU
MUMBAI, SEPT 15, 2021
Jio heartily welcomes the reforms and relief package announced by the Government of India, as these are a timely step towards strengthening India’s telecom sector. These will accelerate realisation of Hon. Prime Minister Narendra Modi’s Digital India vision and enable India’s transformation into the world’s leading Digital Society.
The Union Cabinet today approved a relief package for the stressed telecom sector that includes a four-year break for companies from paying statutory dues, permission to share scarce airwaves, change in the definition of revenue on which levies are paid and 100 per cent foreign investment through the automatic route.
The measures also include the scrapping of Spectrum Usage Charge (SUC) for airwaves acquired in future spectrum auctions.
Among procedural reforms, shifting from prepaid to post-paid connections and vice-versa will not require fresh KYC.
“Jio’s mission is to bring the fruits of the Digital Revolution to 1.35 billion Indians. Guided by this mission, we have ensured that Indians have the highest quality and the highest quantity data access anywhere in the world, at the most affordable prices. The Government’s telecom sector reforms will encourage us to bring newer and greater benefits to our customers,” Jio said in a statement today.
“We look forward to working with the Government of India and other industry players in reaching all the goals and milestones of the Digital India vision, so that we can collectively make every sector of the economy productive and enhance the Ease of Living for every Indian,” it added.
Commenting on the reform measures, Reliance Industries Ltd. Chairman Mukesh D Ambani said, “Telecom sector is one of the prime movers of the economy and the key enabler for making India a Digital Society. I welcome the Government of India’s announcement of reforms and relief measures that will enable the industry to achieve the goals of Digital India. I thank Hon. Prime Minister for this bold initiative.”
