Centre announces big reforms in auto, telecom sectors
Centre announces big reforms in auto, telecom sectors: The cabinet has come out with a strong move to push the economy and announced some big reforms in the automobile and telecom sectors of India ,starting from production-linked incentive (PLI) scheme to rationalising AGR definition to digitising KYC. Union minister Anurag Thakur said the government has approved the PLI scheme in the auto and drone industries. At the same time, the Telecom Minister Ashwini Vaishnaw said the Union cabinet rationalised the adjusted gross revenue (AGR) definition by excluding non-telecom revenue of telcos from payment of statutory levies. AGR refers to revenues that are considered for payment of statutory dues. He said Rs 26,058 crore has been allocated to both these sectors for the next five years -- Rs 25,938 crore to the auto sector and Rs 120 crore to the done sector. It is expected to bring in investments close to Rs 4,75,000 crore over the next five years, he said.... Read More