India allows telecoms firms to defer spectrum payments

 India allows telecoms firms to defer spectrum payments

NEW DELHI (Reuters) - India will allow mobile operators to defer payments due for airwave capacity bought via auction until the end of March 2022, finance minister Nirmala Sitharaman said late on Wednesday.

The decision of Prime Minister Narendra Modi's cabinet provides some respite to wireless carriers which are due to pay the country's telecoms department at least 920 billion rupees ($12.82 billion) in overdue levies and interest following a court ruling.

($1 = 71.7430 Indian rupees)

(Reporting by Sankalp Phartiyal; Editing by Kirsten Donovan)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Nov 21, 2019 00:07:57 IST



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