Telecom companies' debt stood at Rs 4.17 lakh crore at the end of FY 22

30 Mar 2023 , 07:49 AM

In the fiscal year 2021–2022, six telecom companies, including Airtel, Reliance Jio, and Vodafone Idea, owed a combined amount of Rs 4.17 lakh crore, Parliament was informed on Wednesday. 

According to information provided to the Lok Sabha by Minister of State for Telecom Devusinh Chauhan, Vodafone Idea, Airtel, Reliance Jio, BSNL, Tata Teleservices, and Tata Teleservices (Maharashtra) Limited all incurred debt in the fiscal year 2021–2022 totaling a combined total of Rs1,91,073.9 crore, Rs1,03,408.1 crore, Rs42,486 crore, Rs40,400, Rs20,162 crore, and Rs 19,703 crore respectively.

In order to enhance healthy competition, safeguard consumer interests, inject liquidity, boost investment, and lessen the regulatory burden on telecom service providers (TSPs), the government has authorized a number of structural and procedural reforms in the sector, according to Chauhan.

For feedback and suggestions, write to us at [e-mail]