News Brief
Cabinet Approves Rs 89,047 Crore Revival Package For BSNL: Report
BSNL
In a major development, the Union cabinet has given its approval for a revival package worth Rs 89,047 crore ($10.79 billion) to rejuvenate the state-run telecom operator, Bharat Sanchar Nigam Ltd (BSNL), according to sources cited by Reuters and CNBC-TV18.
The move comes shortly after BSNL signed a partnership agreement with Tata Consultancy Services for the deployment and nationwide rollout of a 4G network. BSNL's decision to focus on 4G comes as its competitors are actively engaged in rolling out 5G services in the country.
BSNL has been grappling with inadequate infrastructure for a significant period, facing intense competition from Reliance Jio, Bharti Airtel, and Vodafone Idea. Its rivals have successfully introduced affordable 4G services for both voice calls and data, exacerbating BSNL's struggles.
The Cabinet had previously approved a comprehensive four-year revival plan valued at Rs 1.64 lakh crore for the ailing telecom operator. While the plan spans four years, the majority of its implementation will occur during the initial two years. In July 2022, Ashwini Vaishnaw had disclosed that the cash component of Rs 1.64 lakh crore would be allocated towards spectrum allocation, capital expenditure, and viability gap funding.
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