In a major relief for telecom majors Airtel and Vodafone Idea, the central government may slash their Adjusted Gross Revenue (AGR) dues, according to sources.
The Prime Minister's Office has reviewed the latest proposal from the Department of Telecom on the AGR relief.
If approved, Vodafone Idea's AGR dues will likely be reduced to Rs 28,000 crore from Rs 83,400 crore. The government had previously converted dues into an equity stake in the company.
On the other hand, Airtel's AGR dues will likely be reduced to Rs 10,000 crore from Rs 42,000 crore, sources said.
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