The Union Cabinet on Wednesday approved the telecom policy, which now named as National Digital Communications Policy (NDCP) 2018.
The Cabinet chaired by Prime Minister Narendra Modi approved the policy, which aims to create 4 million jobs in telecom and digital communication sector and hopes to attract $ 100 billion investment, said an official in the Telecom Department.
The policy is coming at a time when the telecom sector facing financial crises with mounting debt that has crossed more than Rs 8 lakh. Promising rationalisation of levies such as spectrum charges to rejuvenate debt-ridden telecom sector, the new policy seeks to provide broadband access to all with 50 mbps speed, 5G services and create 40 lakh new jobs by 2022.
As per the draft National Digital Communications Policy (NDCP) 2018, promised to overhaul the sector mostly rationalise spectrum charges to rejuvenate debt-ridden telecom sector.
The policy has the provisions to adopt "Optimal Pricing of Spectrum" to ensure sustainable and affordable access to digital communications. High spectrum price and related charges have been the main concern of telecom services segment, which is reeling under a debt of around Rs 7.8 lakh crore.
Telecom Minister Manoj Sinha earlier said "We need massive investments in developing newer technologies which are accessible and affordable for the people. We are poised to become the third largest economy in the world over the next two decades. It is the most opportune moment for the investors across the world to invest in India," he said.
The Minister had said there have been some upheaval in the last 2-3 years with mergers and acquisitions and a couple of unfortunate insolvency proceedings but "worst is now behind us".
"As we move from telecom to digital India, it is pertinent to mention that the draft Digital Communications Policy 2018 aims to attract of $ 100 billion in the sector. India has announced plans to launch 5G service by 2020 which provides big investment opportunity," Sinha said.
Claiming that the government has been taking a pro-industry decision, the Minister had said that recent decision of providing relief to the telecom sector that entails giving more time to companies to pay for the spectrum they bought as well as liberalised spectrum caps - will ensure that the historic success of the sector continues unabated.