Top headlines: Telcos slam Trai, Rs 1,900 cr deficit may hit infra projects

Business Standard brings you top headlines on Wednesday

Telecom operators on Monday slammed the base price for the 3300-3670 MHz 5G band recommended by the Telecom Regulatory Authority of India, saying it not enough to run a viable 5G network. Meanwhile, a Crisil study has said buyers have to pay more for an electric SUV or an internal combustion engine-powered SUV or two-wheeler in next four years. More on those stories in our top headlines this morning

5G spectrum price cuts not sufficient: Telecom operators slam Trai

Telecom operators have stated bluntly that the base price for the 3300-3670 MHz 5G band recommended by the Telecom Regulatory Authority of India (TRAI), which has slashed it by 36 per cent from Rs 492 crore per MHz in 2018 to Rs 317 crore per MHz, is not sufficient for them to run a viable 5G network.

Says a top executive of a leading telecom operator, “We believe that the base price should be one-third of that of the 2018 price for telcos to build a viable 5G business. Read more here

IPO-bound LIC plans to cross-sell policies via housing finance arm

Life Insurance Corporation (LIC) may explore cross-selling products through its housing finance arm LIC Housing Finance. This will help strengthen yet another channel of LIC for selling its policies.

As the insurer looks to attract investors for its mega initial public offering (IPO), the Centre is learnt to have informed investors during road shows that LIC would look at cross selling its policies, a senior government official said. Read more here

Rs 1,900 crore deficit likely to hit infrastructure projects in FY23

The Parliamentary Standing Committee on Commerce has observed that a massive shortfall in the budgetary allocation of over Rs 1,900 crore by the finance ministry to the industry department may have an adverse impact on the implementation of infrastructure (infra) projects in 2022-23 (FY23).

While the Department for Promotion of Industry and Internal Trade had sought Rs 10,267 crore from the finance ministry for FY23, it received Rs 8,348-crore allocation. Read more here

Rules, input costs to make car ownership expensive in 4 yrs: Crisil study

Four years from now, whether you buy an electric SUV or an (ICE) internal combustion engine-powered SUV or two-wheeler, be ready to pay more. But unlike FY22 it isn't the EVs but the gasoline-run vehicles that will be heavier on the wallet, according to a cost of ownership study done by Crisil Research.

Buyers of electric SUVs would pay a premium of 11 per cent over the ICE SUVs by 2026 over the conventional gasoline SUVs. This would be against the minimum 23 per cent one paid at the end of FY22. Read more here

Future Enterprises defaults on Rs 9.10 cr interest payment for NCDs

Debt-ridden Future Enterprises Ltd (FEL) on Tuesday said it has defaulted on payment of Rs 9.10 crore interest on non-convertible debentures. The payment was due on April 11.

FEL has defaulted interest for the period between October 11, 2021, to April 10, 2022, a regulatory filing from the Future group firm said. Read more here