Business

Rs 1.64 lakh crore package approved to revive BSNL, Airtel-Jio will get tough competition

Photo:FILE BSNL

Highlights

  • IT Minister Ashwini Vaishnav gave this information on Wednesday
  • The merger of BSNL and Bharat Broadbank Network Limited has also been approved.
  • Government to issue bonds worth Rs 23,000 crore for BSNL in next three years

BSNL The Union Cabinet has approved a package of Rs 1.64 lakh crore to improve the poor system of Telecom Minister Ashwini Vaishnav gave this information on Wednesday. Along with this, BSNL will allot spectrum to BSNL to help in the expansion of 4G services. Also, BSNL’s statutory dues of Rs 33,000 crore will be converted into equity. Apart from this, the company will issue government bonds to pay off bank loans of Rs 33,000 crore. Telecom experts say that with the strengthening of BSNL, other telecom companies including Airtel-Jio will get a tough competition. Competition will increase in the market and people will get good services.

Announcement of merger of BSLN and BBNL

The Union Cabinet has approved the merger of BSLN and BBNL. With this merger, BSNL will now have complete control of 5.67 lakh km of optical fiber of BBNL spread across the country. It is worth noting that BSNL has more than 6.80 lakh km of optical fiber network. At the same time, BBNL has laid 5.67 lakh km of optical fiber in 1.85 lakh gram panchayats of the country. BSLN will get control of the fiber laid by BBNL through Universal Service Obligation Fund (USOF).

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