Cabinet clears: Rs 70,000 crore plan to revive BSNL, MTNL

New Delhi: The government has approved a Rs 70,000 crore-plus package for reviving BSNL and MTNL that involves merger of the two state-run telecom operators and a voluntary retirement scheme.

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved the revival package that includes raising Rs 15,000 crore via government-guaranteed bonds, allocation of 4G spectrum worth Rs 20,140 crore, and a Rs 38,000-crore asset-—mainly land bank—monetisation plan over four years.