India to unveil new telecoms rules on Monday

NEW DELHI: India will unveil a much-awaited new telecoms policy on Monday, which is expected to include rules on pricing of second-generation radio airwaves and mergers and acquisitions in the sector.

Telecoms Minister Kapil Sibal will hold a news conference at 2 p.m. (0830 GMT) on Monday to announce the draft National Telecommunications Policy-2011, according to a government invite to media.

India is overhauling its decade-old telecoms rules after the sector was hit by a massive licensing scandal, which a state auditor said cost the government up to $39 billion in revenue.