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The Comptroller and Auditor Geneal of India (CAG) discovered that five telecommunications corporations, Reliance Jio, Tata Teleservices, Telenor Videocon and Qaudrant, caused a loss of approximately Rs 2,578 million to the Treasury by underestimating revenues of more than Rs 14.8 billion. According to the CAG report filed in Parliament, the government earned 1.15.17 million fewer rupees in licensing fees, 511.53 million rupees in spectrum usage fees and 1,052.13 million rupees as an interest applicable in the event of a past due payment. He stated that the five corporations are Tata Teleservices, Telenor, Videocon Telecom, Qaudrant (a Videocon Group company) and Reliance Jio. The government’s fundraising for Tata Teleservices is running out of Rs 1,893.6 crore, Telenor – Rs 603.75 crore, Videocon – Rs 48.08 crore, Quadrant – Rs 26.62 crore and Jio – Rs 6.78 crore for licensing fees, SUC and applicable interest charges. CAG stated: “To summarize the audit of the records of five PSP (private sector actors) by audit, a general estimate of the AGR (adjusted gross revenue source) of Rs 14,813.97 for the era is reported until 2014-15 and the consecutive short payment of the percentage of revenue. Government of India to the song of Rs 1,526.7 crore. “He added that interest on the percentage of the source of income paid overdrafts for the era until March 2016 Rs 1,052.13 crore. The CAG’s findings are discovered in the audit of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd from 2010-11 to 2014-15; Teloccasionures Quadrant (2006-07 to 2014-15); Videocon Telecom (2009-10 to 2014-15); Telenor (2009-10 to 2014-15) and Reliance Jio Infocomm from 2012-13 to 2014-15.
(PTI)
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