The investment by Qualcomm Ventures into Jio Platforms will be made in exchange for 0.15 per cent equity stake at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
As part of the Atmanirbhar Bharat package announced in May, Finance Minister Nirmala Sitharaman had announced that the Centre has decided to accede to the request and increase borrowing limits of states from 3 per cent to 5 per cent, for 2020-21.
With the rapid spread of COVID-19 pandemic manifesting into an economic and healthcare crisis globally, the latest forecast marks a sharp downward revision from the growth estimate of 5.5 per cent reported in the January 2020 survey, it said.
