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Telecom industry to witness healthy revenue growth in FY23

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Tariff hikes as well as continued increase in data usage is expected to accelerate telecom industry’s revenue growth in FY23.

The sector has been saddled with debt due to complications such as the ‘Adjusted Gross Revenue’ (AGR) case verdict, which brought in a huge immediate liability on the books of telecom operators.

“While the pandemic had a bad influence on the other sectors, surprisingly, it turned out to be a boon for the telecom sector as corporates were dependent on telecom operators for the smooth running of their operations,” Brickwork Ratings (BWR) said in a report.

“This eventually helped in steady growth in the sectors’ key metrics such as the ‘ARPU’ and ‘MOU’.”

According to the report, the difficult situation for the sector may ease in future as tariff hikes and a continued increase in data usage to result in increased revenue by 6-8 per cent in FY22.

Besides, the subscriber shift towards the 4G network is imminent due to higher need on account of work and education being done from home, which will in turn, lead to an increase in the companiesa¿ total revenues.

Notably, the wireless data usage on average increased by 37 per cent YoY n Q2FY22.

Furthermore, the report cited that the recent hike in tariff plans by 20-22 per cent would help improve the sector’s viability.

“The telecom sector in India is dominated by three major players and is highly competitive in nature, thus making price hikes an uncommon event. However, the recent tariff hikes would help increase the APRU of the telecom operator, deal with the financial crisis and enable investment for the 5G network.”

“However, the flipside is that price hikes may hinder the movement of subscribers to 4G from 2G.”

At present, around 44 per cent of the telecom subscribers are from rural areas, and hence, price hikes could discourage the increased usage of the telecom services.

Moreover, it pointed out that due to the pandemic, educational institutions and NGOs largely depend on telecom operators for reach, which may not be as much after the lockdown is lifted, which is imminent with increased vaccine coverage.

In addition, the agency expects the EBITDA margins of the telcos to improve in FY22 on account of tariff hikes and increased data usage.

“The tariff hikes of 20-22 per cent in November 2021 would lead to an increase in FY22 revenues, the full effect of which would be seen in FY23.”

“The costs for telecom operators are also expected to reduce, given the revision in the definition of the AGR and other reliefs announced by the government.”

Recently, the Department of Telecommunications has already released bank guarantees of Rs 9,200 crore deposited earlier by the telecom operators, thereby improving the liquidity available to them and reducing finance costs.

“This, coupled with the increase in revenue, would help boost the sector’s overall profitability.”

National

Rahul Gandhi questions Maha govt over farmer suicides, BJP counters with facts during Cong-NCP rule

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New Delhi, July 3: Leader of Opposition (LoP) in the Lok Sabha Rahul Gandhi on Thursday criticised the BJP-led Maharashtra government over farmer suicides and accused the Centre of ignoring their plight. This prompted a swift response from the BJP, which cited findings and facts about farmer deaths in the state during the Congress-NCP rule to set the record straight.

The political blame game on farmer suicides began over the Fadnavis government’s admission that 767 farmers committed suicide in the state in the past three months. The state government told the Legislative Assembly on Tuesday that 767 farmer suicides were reported in the state, primarily in the Vidarbha region.

The Congress MP used the farmers’ deaths to mount an attack on the Centre, accusing it of callousness and gross indifference to their plight. He said that 767 families have been devastated and shattered, but the government remains unmoved.

“Is this just a statistic? No. These are 767 shattered homes. 767 families that will never recover. And the government? Silent. Watching with indifference,” he asked on X.

Rahul further said the farmers are sinking deeper into debt every day, but the government continues to look away. Their plight remains ignored while there is no government assurance or promise on the Minimum Support Price (MSP) for agricultural products.

BJP IT cell chief Amit Malviya was quick to counter Rahul’s charge with facts and figures of farmers’ suicides, when the state was ruled by Congress-led governments in the past.

Amit Malviya said the Congress leader must think before blurting out baseless charges. He said that Rahul must look at the utter failures and misgovernance of the Congress-NCP governments, which saw a spate of farmer deaths during their reign.

Sharing details of farmers’ deaths, Amit Malviya stated that more than 55,000 deaths took place in the 15-year rule of the Congress-NCP government and asked, ‘Who was accountable for this?’

The graph shared by him, compiled with data gathered from NCRB and P. Sainath, shared details of ‘mass suicides’ in different government tenures, starting from 1999 to 2014.

“From 1999-2004, about 16,512 farmers committed suicide while from 2004-2009, about 20,566 farmers committed suicide while from 2009 to 2014, 18,850 farmers killed themselves,” it pointed out.

Notably, the Vidarbha region in Maharashtra has gained infamy over the years because of an abnormally high number of suicides by farmers. For decades now, the region has been hogging headlines over sorry state of affairs for the farming community.

Rahul Gandhi, further escalating his attack on the Centre, said that farmers’ demand for loan waivers remains ignored, but the Modi government continues to give big loans to corporates and billionaires.

“Modi ji promised to double farmers’ income – today, the reality is that the lives of those who feed the nation are being cut in half. This system is killing the farmers,” Congress MP claimed.

Giving a firm retort, Amit Malviya said that the politics of counting the dead looks repulsive, but it’s important to show Rahul Gandhi and Congress the mirror.

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‘Dedicate it to bright future of India’s youth, their aspirations’: PM Modi on receiving Ghana’s top national honour

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Accra, July 3: After receiving the ‘Officer of the Order of the Star of Ghana’, the country’s national honour by Ghana President John Dramani Mahama, Prime Minister Narendra Modi dedicated the honour to the “bright future of Indian youth, their aspirations, India’s rich cultural diversity and the historical ties between India and Ghana”.

The Prime Minister also thanked the people and the government of Ghana for conferring the country’s highest award to him.

Taking to social media platform X, PM Modi said: “”I thank the people and Government of Ghana for conferring ‘The Officer of the Order of the Star of Ghana’ upon me. This honour is dedicated to the bright future of our youth, their aspirations, our rich cultural diversity and the historical ties between India and Ghana. This honour is also a responsibility; to keep working towards stronger India-Ghana friendship. India will always stand with the people of Ghana and continue to contribute as a trusted friend and development partner.”

Prime Minister Modi received Ghana’s highest national honour in recognition of his “distinguished statesmanship and influential global leadership”.

“Honoured to be conferred with ‘The Officer of the Order of the Star of Ghana’,” the Prime Minister said in an X post.

“A testament to the deep and long standing India-Ghana ties. President @JDMahama conferred upon PM @narendramodi ‘The Officer of the Order of the Star of Ghana’, the national award of Ghana dedicated the award to the 1.4 billion people of India and the historic and deep rooted India-Ghana relations. He thanked the government and people of Ghana for this exceptional honour,” Ministry of External Affairs (MEA) Spokesperson Randhir Jaiswal said in a post on X.

“Fitting that PM @narendramodi has been conferred with Ghana’s national honour — the ‘Officer of the Order of the Star of Ghana’. It is a recognition of his steadfast efforts in strengthening the voice of the Global South. Also a testament to our cooperation and friendship with Ghana,” EAM Jaishankar wrote in a post on X.

Accepting the award on behalf of 1.4 billion Indians, Prime Minister Modi dedicated the honour to the aspirations of the youth of India, its cultural traditions and diversity, and to the historical ties between Ghana and India, the MEA said in an official statement.

The Prime Minister thanked the people and government of Ghana for this special gesture.

Noting that the shared democratic values and traditions of the two countries would continue to nurture the partnership, Prime Minister Modi said that the award further deepens the friendship between the two countries and places new responsibility on him to embrace and advance bilateral ties, the MEA statement noted.

The Prime Minister affirmed he was confident that his historic state visit to Ghana would impart a new momentum to India-Ghana ties.

Earlier, PM Modi held wide-ranging talks with President Mahama, after which India and Ghana elevated their ties to the level of a comprehensive partnership.

The Prime Minister is in Ghana on the first leg of his five-nation tour.

It is the first Prime Ministerial visit from India to Ghana in three decades.

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Another batch of 5,246 Yatris leaves for Valley as Amarnath Yatra begins today

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Jammu, July 2: Another batch of Yatris left Jammu for the Valley as the annual Amarnath Yatra begins officially on Thursday, officials said.

Officials added that the second batch of 5,246 pilgrims left Bhagwati Nagar Yatri Niwas on the Canal Road in Jammu for the Valley in two escorted convoys on Thursday.

“Of these, 1,993 Yatris are going to Baltal base camp while 3,253 are going to Pahalgam base camp,” officials said.

The 36-day long Amarnath Yatra begins on Thursday as the first batch of Yatris left Baltal base camp for the holy cave shrine in the morning.

Other Yatris of the first batch left Pahalgam for the cave shrine in the morning.

On their arrival in the Valley on Wednesday, locals belonging to civil society, trade and other sections of the society lined up with garlands and placards at the Navyug Tunnel in Qazigund town to welcome the Yatris.

Jammu and Kashmir Lieutenant Governor, Manoj Sinha, on Wednesday, flagged off the first batch of Yatris for this year’s Amarnath Yatra from Jammu.

Unprecedented security is being provided to this year’s Amarnath Yatra as this is taking place after the April 22 Pahalgam terror attack in which 26 civilians were killed by Pakistan-backed Lashkar-e-Toiba (LeT) terrorists.

Additional 180 companies of CAPFs have been deployed to augment the existing security set-up comprising the Army, security forces and the Jammu and Kashmir Police.

Yatris have been advised to undertake the journey from Jammu to the Valley only as part of the escorted convoys and not to move separately towards the base camps on their own.

The Yatra officially started on Thursday and will conclude after 36 days on August 9, coinciding with the festivals of Shravan Purnima and Raksha Bandhan.

Devotees approach the holy cave shrine situated 3,888 metres above the sea level either from the traditional Pahalgam route or the shorter Baltal route.

Those using the Pahalgam route trek from Pahalgam to Chandanwati, Sheshnag and Panchtarni to reach the holy cave shrine taking four days to cover the 46-km long trek.

Those using the Baltal route return to the base camp the same day after having ‘Darshan’ inside the cave shrine covering the 14-km long trek.

For security reasons, no helicopter services are available for the Yatris this year.

The cave shrine houses an ice stalagmite structure that wanes and waxes with the phases of the moon.

Devotees believe that the ice stalagmite structure symbolises the mythical powers of Lord Shiva.

Locals are an essential part of the Yatra as they facilitate the Yatra by providing ponies, palkis and even carry the infirm pilgrims on their back to reach the cave shrine.

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