Cabinet Gives Nod To Revival Package Of Rs 89,047 Crore For BSNL

The Cabinet Committee on Economic Affairs (CCEA) has approved a revival package of Rs 89,047 crore for Bharat Sanchar Nigam Ltd (BSNL), according to a CNBC-TV18 report.

Earlier, the government had declared a capital infusion of Rs 52,937 crore during the fiscal year starting April 1, 2023, which was higher than the Rs 44,720 crore budget in financial year 2023, added the CNBC-TV18 report.

The Telecom Minister mentioned during the discussion of Budget 2023-24 that BSNL's capital injection is included in the Rs 1.64 lakh crore revival package declared last year and that most of the balance sheet items of BSNL have already been addressed. The Rs 1.64 Lakh Crore revival package was for 4 years, 70 percent of which was to be extended in the first two years.

In accordance with the package's announcement, BSNL utilised sovereign guarantees to acquire new debt. As per telecom minister Ashwini Vaishnaw's statements, BSNL was to employ the allocated Rs 53,000 crore capital this year to construct new towers, enhance their 2G, 3G 4G and 5G networks, and drastically renovate their MTNL and BSNL landline systems, stated the CNBC-TV18 report.