Union Cabinet Likely To Take Up Proposed Relief Package For Telecom Sector Today

In what could come as a big breather for the stressed and cash-strapped telecom player Vodafone Idea (Vi), the Union Cabinet headed by Prime Minister (PM) Narendra Modi is likely to take up the Department of Telecommunications (DoT)’s proposal of offering a relief package to the telecom industry today (8 September), reports Financial Express.

It should be noted though that even though Vi has been at the forefront to ask for Government support, the package is unlikely to be a tailor-made solution to address its concerns. The package will be for the entire industry.

Liberalisation of foreign direct investment norms from a security angle and doing away with the need of furnishing bank guarantees may also be on the cards.