Kapil Sibal revealed, why is 8 lakh crore debt over telecom sector

Dec 02 2019 02:24 PM
Kapil Sibal revealed, why is 8 lakh crore debt over telecom sector

New Delhi: Former Union Minister and veteran Congress leader Kapil Sibal has attacked the Central Government over the rising debt in the telecom sector. Kapil Sibal has said that the telecom sector is not a medium of earning, the government should not see these sectors as earning, rather these sectors are meant to provide convenience to the people. Kapil Sibal said that the telecom sector needs to be given time, the government should make its policies practical and not think about earning from this sector.

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Kapil Sibal further said that why there is a debt of about 8 lakh crore rupees on the telecom sector. Taking a dig at the BJP, Sibal said that it is because BJP did a great job when it was in the opposition, due to which foreign investment did not come, so BJP is responsible for such a huge debt on the telecom sector. Telecom Minister Ravi Shankar Prasad himself said that the condition of the telecom sector is very bad due to AGR.

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Ravi Shankar Prasad has said that the adjusted gross revenue (AGR) of the telecom sector has come down by a quarter to Rs 1.39 lakh crore in FY 2018-19. In FY 2016-17, this figure was Rs 1.85 lakh crore. This clearly shows how bad the telecom sector is. The sector has a debt of about Rs 8 lakh crore, which includes Bharti Airtel's Rs 1.16 lakh crore, Vodafone's Rs 99,300 crore loan.

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