The relief package for the telecom sector, while offering the prospect of an annual cash flow breather of an estimated Rs 45,000 crore to the fund-starved industry, falls short of addressing the significant smudges of red already on the balance sheets of a majority of the players. The measures, all of them prospective in nature, also potentially miss out on fostering a more sustainable tariff regime which, according to industry players, could have come as a shot in the arm for players in the capital-intensive sector and other stakeholders, such as banks that have an exposure exceeding Rs 1 lakh crore to telecom companies.
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