July 28, 2022 9:21 AM

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Union Cabinet approves Rs 1.64 lakh crore revival package for BSNL

<span style="color: #222222;">Home Minister Amit Shah has said that connectivity for all is government's priority. He lauded Cabinet decisions taken under the leadership of Prime Minister Narendra Modi yesterday. In a series of tweets, Mr Shah said, the cabinet has approved a project for saturation of 4G mobile services in uncovered villages to provide 4G mobile services in 24 thousand 680 uncovered villages in remote and difficult areas. Mr Shah said, in another important decision, the Union Cabinet also approved the revival package of BSNL amounting to one lakh 64 thousand crore rupees. He said, this will help BSNL to improve the quality of their existing services, roll out 4G services and become financially viable.</span><br />

July 27, 2022 7:47 PM

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Union Cabinet approves Rs 1.64 lakh crore revival package for BSNL

Union Cabinet has approved revival package of over one lakh 64 thousand crore rupees for Bharat Sanchar Nigam Limited, BSNL. It has also approved the merger of Bharat Broadband Network Limited and BSNL. Briefing reporters in New Delhi after the Cabinet meeting in New Delhi today, Electronic and IT Minister Ashwini Vaishnaw said, the package is aimed at making BSNL a sustainable entity and vibrant telecom player. He said, with the help of this package the services of BSNL will be upgraded.<br />'' <br />'' The Minister said, BSNL plays a crucial role in expansion of telecom services in rural areas, development of indigenous technology and disaster relief. He said, the revival measures focus on infusing fresh capital for upgrading BSNL services, allocating spectrum, de-stressing its balance sheet, and augmenting its fiber network by merging Bharat Broadband Nigam Limited with BSNL. He said, to improve existing services and provide 4G services, BSNL will be allotted Spectrum in 900 and 1800 Mega Hertz band administratively at the cost of 44 thousand 993 crore rupees through equity infusion.<br />'' <br />''The Minister said, government will provide sovereign guarantees to the two PSUs for raising long-term loans. They will be able to raise long-term bonds for an amount of 40 thousand 399 crore rupees. Mr Vaishnaw said, this will help restructure the existing debt and de-stressing the balance sheets.

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