Vodafone Idea paid 3,354 crore rupees on Monday towards its adjusted gross revenue (AGR ) dues. With this payment, the total amount paid by telco to the Telecommunications Department (DoT) is approximately Rs 6,854 crore. According to the own assessment of the telecom company, its AGR contributions amount to Rs 21,533 crore, of which the principal amount has been pegged at Rs 6,854 crore. The Supreme court is expected to hear the modification plea on AGR dues between telcos and the DoT on March 17.
The government is expected to announce a bailout for telecommunications companies in mid-April. It may include an extension of the payment period for adjusted gross revenue (AGR) that telcos owe to the government. Some possible interventions could include a payment plan in several instalments of AGR dues. The package will provide an overview of the sector, keeping in mind the ambitious roll out of 5G. With the Supreme Court ruling on the repayment, the government is unlikely to reduce the penalty and interest on the AGR dues.
The government approved a hike of 4% in the dearness allowance (DA) for central government employees and retirees. The DA has been hiked from 17% to 21% with effect from January 1, 2020. From now on, the monthly salary of central government employees will go up from Rs 720 to Rs 10,000. It will be paid by this month. It is granted to employees and retirees of the central government with effect from January 1 and July 1 each year and normally paid in March and September respectively.
The government received a partial payment of around 25,900 crores from telecom operators towards AGR dues. So far, Bharti Airtel has paid Rs 18,004 crore and Vodafone Idea has spent Rs 3,500 crore, Tata Teleservices has paid approximately Rs 4,197 crore, Rs 3.9 crore has been paid by Reliance Communications and Reliance Jio paid around Rs 195 crore. Telecom operators made certain payments in accordance with the Supreme Court order of October 24, 2019. The government again ordered telcos to make full payment in a letter dated 4th March.
The Employee Provident Organization has decided to extend the minimum insurance benefit of the employee deposit linked insurance scheme (EDLI). Now, compensation will be paid to the family members of a deceased employee, who dies on duty, even if he worked in several companies during the year preceding his death. Earlier, the benefit was not paid if the member worked in more than one establishment for a continuous period of 12 months preceding his death. The insurance benefit under the EDLI scheme is capped at Rs 6 lakh.
Department of Telecommunications (DoT) and BSNL employees who are retired planning to organize a march to Parliament for the demand of revision in their pension on March 12, 2020. according to the statement, it is unjust on the part of the government to refuse the revision of their pension even after three years. The association said in their statement, the pension revision should be based on the new pay scales with 15% fitment.
The central government employees of the North-Eastern Region, Union Territory of Ladakh, Andaman & Nicobar Islands and Lakshadweep groups of islands are getting relaxation in the ‘Emergency Passage Concession’. They will get a concession on travel to any declared destination. Before the concession was allowed only for traveling either to the Home Town or the emergency posting destination. As per the Office Memorandum issued on 28 February 2020, it is a part of the implementation of recommendations of the 7th Central Pay Commission (CPC).
The Limited Liability Partnership (LLP) companies have failed to file the requisite statutory documents such as annual statements, change in directors, etc. The ministry of corporate affairs (MCA) has launched a one-time amnesty scheme for such companies. This step is aimed at promoting ease of doing business. Such companies will be provided a one-time relaxation in payment of additional fees and immunity from prosecution. For such delays, LLPs can file documents on payment of an additional fee for Rs 100 for each day.
The National Payments Corporation of India has doubled the payment limit per transaction for the UPI to Rs 2 lakh from the current limit of Rs 1 lakh. It will take effect on April 1, 2020. It is designed to meet specific needs, including credit card payments, loans, insurance and investments in mutual funds. This decision should stimulate digital payment players such as Paytm, Google Pay and PhonePe. It will help promote and increase the use of the UPI to millions of customers who need high volume transactions.
In a meeting of the Inter-Ministerial Approval Committee (IMAC) held under the chairpersonship of Food Processing Industries Minister Harsimrat Kaur Badal, sanctioned ten projects worth rupees Rs 301.54 crore with a total grant-in-aid of Rs 67.29 crore. This meeting was held in New Delhi. These projects come under the ‘Agro Processing Cluster Scheme’ of Kisan Sampada Yojana. These will be beneficial for forty thousand Indian farmers and likely to generate employment for ten thousand people in India.