The Centre’s proposal to waive off adjusted gross revenue (AGR)-related dues of telecom companies will reduce Vodafone Idea’s (Vi) AGR liabilities sharply and help successfully complete its debt raising plans, said analysts. They however pointed out that Vi’s net debt would still remain at elevated levels due to large payments for its spectrum dues that are not part of the proposed package. Shares of Vodafone Idea surged 10% intraday, before closing 9.1% higher Monday, on an ET report that the government is considering a proposal to waive 50% of interest and 100% of penalties and interest on penalties that make up bulk of the AGR dues levied on telcos after the 2019 Supreme Court order.