Cabinet approves two-year moratorium on spectrum payments for telcos

The move was approved by the Union Cabinet headed by Prime Minister Narendra Modi.

Finance minister Nirmala Sitharaman during a press meet in New Delhi. (Photo |PTI)

NEW DELHI: Providing relief to telecom companies, the Union Cabinet on Wednesday approved a moratorium of two years for spectrum payments, sources said.

The move to defer payments for 2020-21 and 2021-22 will give Rs 42,000 crore relief to Bharti Airtel, Vodafone Idea and Reliance Jio, they said.

The move was approved by the Union Cabinet headed by Prime Minister Narendra Modi.