Saturday, Sep 30 2023 | Time 12:07 Hrs(IST)
Business Economy

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.
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