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HomeCURRENT AFFAIRSBUSINESSCabinet approves Rs 89,000 crore revival plan for state-owned BSNL

Cabinet approves Rs 89,000 crore revival plan for state-owned BSNL

The Union Cabinet on Wednesday approved a Rs 89,000 crore revival package for Bharat Sanchar Nigam Limited (BSNL). This package will be used to enhance BSNL’s 4G and 5G services. The government issued a statement on Wednesday and informed about it. The Central Government believes that a Government PSU in the telecom sector should flourish because of its strategic importance.

However, this is not the first revival package for BSNL announced by the Centre. The Center had also announced a revival package for BSNL in July 2022, to make the telecom PSU a more profitable organization and provide 4G and 5G services. The package focused on the services and its quality, balance sheet of BSNL and expansion of optical fiber network of BSNL.

BSNL’s authorized capital will increase from Rs 1.5 lakh crore to Rs 2.10 lakh crore

The authorized capital of BSNL will be increased from Rs 1,50,000 crore to Rs 2,10,000 crore. With this revival package, BSNL will emerge as a stable telecom service provider focused on providing connectivity to remote parts of India.

Also Read: TCS onboards 44,000 freshers in FY23, honors all job offers

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