Six Telecom Companies under- reported revenue by over 61000 crores: CAG (Comptroller and Auditor General)

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The CAG audited six telecom companies- Bharti Airtel,Vodafone, Aircel,Idea,Reliance Communications and Sistema Shyam Teleservices Ltd- and said that they have under-reported their Adjusted Growth Revenue(AGR) by Rs   61064 crores during 2010-2015.CAG said that the under-reporting has reduced the governments revenue in form of Spectrum Charges and Licensing by Rs 7697.6 crores. According to the CAG report,the netting of revenue from infrastructure sharing and exclusion of foreign exchange gains,interest income and sale of investments lead to the understating of revenue. An amount of Rs 4531 crores as interest arising out of short term payments is also due.As per the New Telecom Policy of TRAI ( Telecom Regulatory Authority of India) telecom companies are mandated to share a percentage of their Adjusted Gross  Revenue (AGR) with the Government.In addition,the telecom companies were required to pay Spectrum Usage Charges to use the radio frequency spectrum allotted to them by the Government.

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