New Delhi, April 30 -- Vodafone Idea received a significant reprieve on Thursday as the government slashed the cash-strapped telecom firm's adjusted gross revenue (AGR) dues by Rs.23,600 crore to Rs.64,046 crore, as of December-end, providing a measure of certainty that could help unlock critical bank financing.

AGR is the revenue base used to calculate licence fees that the telecom operators need to pay the government.

The telecom department finalised the revised figure after a reassessment ordered by the Supreme Court that had been pending for years. Under the revised payment schedule, Vodafone Idea will pay just Rs.100 crore annually from FY32 to FY35, before six larger instalments of Rs.10,608 crore each kick in from FY36 to FY41, d...