Saturday, Sep 30 2023 | Time 12:07 Hrs(IST)
image
Business EconomyPosted at: Jun 7 2023 4:43PM


Govt approves allotment of 4G/5G spectrum to BSNL, Rs 89K crore third revival package

New Delhi, June 7 (UNI) The Union Cabinet on Wednesday approved the third revival package for state-run BSNL with the total outlay of Rs 89,047 crore.
The package includes allotment of 4G/5G spectrum for the telecom company through equity infusion.
"With this revival package, BSNL will emerge as a stable telecom service provider focused on providing connectivity to remotest parts of India," an official media release said following the
Cabinet meeting chaired by Prime Minister Narendra Modi.
The authorized capital of BSNL will now be increased from Rs 1,50,000 crore to Rs 2,10,000 crore.
As a result of spectrum allotment to BSNL, the telecom major would be able to provide pan India 4G and 5G services. It will also provide 4G coverage in rural and uncovered villages, Fixed Wireless Access (FWA) services for high-speed internet and services/spectrum for Captive Non-Public Network (CNPN).
The government had approved the first revival package of Rs 69,000 crore for BSNL/MTNL in 2019. The second revival package of Rs 1.64 lakh crore was approved in 2022.
While the first revival package brought stability in the public sector telecom companies, the second package provided financial support for capex, viability gap funding for rural landlines, financial support for de-stressing the balance sheet, settlement of AGR (adjusted gross revenue) dues and merger of BBNL with BSNL among others.
"As a result of these two packages, BSNL has started earning operating profits since FY 2021-22. Total debt of BSNL has reduced from Rs 32,944 crore to Rs 22,289 crore," the statement said.
UNI NK BM
Please log in to get detailed story.
Tags: #Govt approves allotment of 4G/5G spectrum to BSNL# Rs 89K crore third revival package
More News

E-mobility projects ushering new era of sustainable transportation: Jammu Smart City CEO

29 Sep 2023 | 11:06 PM

Jammu, Sep 29 (UNI) In a remarkable display of dedication to eco-friendly transportation, Jammu Smart City on Friday organized an electric-bicycle rally, as part of the ‘Swachta Hi Seva’ and ‘Meri Mati Mera Desh’ initiatives.

see more..

Hyd: National Mart launches its 6th biggest store at Nagaram

29 Sep 2023 | 9:54 PM

Hyderabad, Sep 29 (UNI) Hyderabad-based brand National Mart – India Ka Supermarket, on Friday announced the opening of its 6th biggest store at Nagaram, outskirts of the city.

see more..

Kishor Kansagra takes over as BBF Chairman

29 Sep 2023 | 9:20 PM

Mumbai, Sep 29 (UNI) The Board of the Bombay Stock Exchange Brokers’ Forum (BBF) unanimously appointed Kishor Kansagra as the Chairman of its Governing Board effective from Friday.

see more..

TVS SCS to enhance profitability through strategic asset sale

29 Sep 2023 | 8:08 PM

Chennai, Sep 29 (UNI) TVS Supply Chain Solutions Limited, a global supply
chain solutions provider, on Friday announced the sale of Circle Express,
through its UK Subsidiary RICO Logistics, to boost the company's profitability
and sharpen its focus on core offerings to its customers.

see more..

RINL is making continuous efforts to improve liquidity position: CMD

29 Sep 2023 | 7:51 PM

Visakhapatnam, Sep 29 (UNI) Rashtriya Ispat Nigam Limited-Visakhapatnam Steel Plant (VSP) Chairman and Managing Director Atul Bhatt on Friday stated that RINL is making continuous efforts to improve the liquidity position to enhance the production in all units and improve capacity utilization in 2023-24.

see more..
image