Seeking to spur foreign investments, Finance Minister P Chidambaram has said the Union Cabinet will decide on raising FDI caps in different sectors in the third week of this month.
The defence ministry has decided to release only that 3G spectrum that is to be auctioned and that too in phases. In fact, the armed forces have not released spectrum already in use as envisaged in their agreement with department of telecommunication.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
In view of the foreign investment that would come into Bharti Airtel via the proposed share-swap and cash transaction arrangement, the finance ministry has asked DoT to ascertain more specific contents of the deal and advise the ministry on the same. In its letter, DEA has also said that the transaction would need to adhere to the sectoral cap as per the FDI policy as also specific telecom sector regulations.
Apart from other things, this would have put a spanner in the government's Digital India campaign.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
The policy change was originally scheduled to come into effect on February 8, the Facebook-owned company said.
MoD dismissed the report saying it draws 'conjectural connection between tax exemption to a private company and procurement of Rafale jets'.
Auctions for spectrum for 3G or third-generation telecom services could be delayed from an already rescheduled date of January 30 after the Department of Telecommunications sought legal opinion on whether it should send the finance ministry's suggestion on doubling the reserve price back to the Telecom Regulatory Authority of India for its endorsement.
Blackberry services have become a bone of contention between government and telecom service providers, who are questioning the rationale behind making them respondent to the concern of security agencies.
While Rs 37,461.01 crore has been allocated for higher education, Rs 56,386.63 crore has been earmarked for school education.
The company, which has a subscriber base of 120 million, also plans to raise funds via a bonds issue. The company's impending 4G launch is also expected in the second half of the current financial year for which it would invest Rs 12,000 crore, partly through bonds.
Home Ministry sources said all telecom operators in the country had been asked not to issue SIM cards without verification or in bulk.
The move could streamline capital flows and help finance current account deficit
Concerned that they will not be able to comply with downlinking guidelines and cable laws, broadcasters and the cable industry have strongly opposed any move to govern Internet Protocol TV services through the Unified Access Service Licence agreement
In an interview to PTI, Raja said his ministry would keep a vigil on these players and on their plans to start operations (50 per cent in the first year of spectrum allotment). Raja's assertion has come at a time when he is faced with criticism following the high-value stake-sale of two new telcos -- Unitech Wireless and Swan Telecom -- who are yet to start services.
Earlier, the Reserve Bank of India was the approving authority.
Finance Minister P Chidambaram has asked UK-based Vodafone Group, which is facing a tax liability of over Rs 11,200 crore in India, to give its view on the long-pending matter in writing, a senior official said.
State-run telecom major Bharat Sanchar Nigam Ltd has written to the defence ministry to amend the conditions for floating tenders, including having own manufacturing facility in India, for setting up alternative communications network for defence forces."We have written to the defence ministry for change in tender conditions as some companies have said that the current conditions are very strict," said a senior BSNL official.
As a measure of abundant caution in the face of the Ayodhya verdict, the government on Wednesday banned bulk SMSes and MMSes for three days with immediate effect.The ministry of communications issued the order in consultation with the ministry of home affairs. The order has been issued to all mobile telecom service providers in the country for "banning all bulk SMSes and MMSes in all service areas with immediate effect for the next 72 hours".
Law ministry tells finance ministry to inquire into the acquisition of Hutchison-Essar further.
On these routes, the train speed would also be increased to above 160 kmph over the next four or five years by revamping the entire signaling, tracks and fencing.
It seems odd that someone as erudite, articulate and suave as Environment Minister Jairam Ramesh should get entangled in to one controversy after another, in quick succession.
The 21-day coronavirus lockdown in force since Wednesday has triggered a mass exodus of migrant workers across the country since the last few days.
The IPL uses this system for players' auction.
The government on Wednesday said it will not allocate any spectrum to existing operators, license holders and new applicants till a scientific evaluation was done by the Telecom Engineering Centre (TEC)."There is scarcity of spectrum and number of applicants are much more than actually can be accommodated... Applications must be synchronised by a legal process... We have referred the matter to Law Ministry to get Solicitor General's views on the matter," Telecom Minister A Ra
Addressing a hurriedly called press conference to clear his position in the wake of Left parties demanding a probe, alleging Rs 60,000 crore (Rs 600 billion) loss to the exchequer in spectrum allocation, the minister said that Trai recommendations were followed in letter and spirit.
With services contributing around 57 per cent to the economic growth, finance ministry advisers have made a case for allowing FDI in the retail sector and selling government equity in PSUs, including telecom firms BSNL, MTNL and TCIL, to achieve high GDP expansion.
Modi has appointed P K Sinha, who superannuated as cabinet secretary on Friday, as Officer on Special Duty (OSD) in the Prime Minister's Office (PMO), he said.
It is significant that Modi who speaks of introducing a new kind of governance, decided to amend the law to accommodate one person, when the law was made to ensure that bureaucrats do not use their connections to seek out lucrative postings.
Sibal's predecessor Ashwani Kumar had rejected FinMin's plea for conciliation terming it illegal.
The DoT issued the information memorandum last week, saying auction would start on January 14 and for this to happen, the blocks of spectrum to be auctioned must be identified latest by the first week of December.
By setting a single spectrum-release deadline for all bidders, the finance ministry aims to ensure a level playing field for all operators.
TDSAT had stated no amount was payable till resolution of the disputes.
The Telecom Regulatory Authority of India on Wednesday endorsed the Ministry of Information and Broadcasting proposal to reduce the license fee on Direct to Home (DTH) service providers. Trai said it had received a communication from the ministry conveying its decision to continue with the concept of gross revenue for the purpose of License fee on DTH service providers and to reduce the license fee. Trai's opinion also was sought on reduction of licence fee from 10% to 6%.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
The government has accepted Telecom Engineering Centre's report that has suggested tough norms for spectrum allocation to GSM operators, a move that may make it difficult for players like Airtel, Vodafone and Idea to get additional frequency.
Move aimed at strengthening Sebi's powers to investigate market-related offences.
Spectrum auction and divestment proceeds likely to disappoint, subsidies are likely to overshoot the Budget target and there might also be some shortfall in tax collections.
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