BackNo decision on telecom relief package taken in Cabinet meeting: Report
The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry
PremiumIndia's federal cabinet on Wednesday did not take up the proposals for providing financial relief to the country's debt-laden telecom sector, a government source said.
The cabinet was widely expected to take a decision on a so-called relief package for the telecoms industry, which would have helped all wireless carriers but especially the embattled Vodafone Idea.
Indian shares lost ground on Wednesday afternoon, hurt by losses in heavyweights such as Reliance Industries and Wipro , while telecom stocks gave up gains after a source said the cabinet did not take up a proposal for telecom relief measures.
The blue-chip NSE Nifty 50 index fell as much as 0.62% to 17,254.20 and the benchmark S&P BSE Sensex was down 0.61% at 57,924.80. Both indexes were muted for most of the session.
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