Modi government announces third revival package for BSNL, but hocus-pocus in rescue plan

The Narendra Modi-government has grandly announced a Rs 89,047.82 crore third revival package for the beleaguered state-owned Bharat Sanchar Nigam Ltd (BSNL) but, true to form, it has hoodwinked everyone with another gigantic hoax.

BSNL, the loss-making telecom player that has struggled to keep up with its rivals in what is increasingly turning out to be a two-horse race, has been offered free spectrum in four bands – 700 Mhz, 2500 Mhz, 3300 Mhz, and 26 Ghz – which has been arbitrarily valued at Rs 88,515.93 crore. It has thrown in a small amount of Rs 531.89 crore under an unexplained head called “Miscellaneous items” with little clarity on whether there is an upfront cash infusion to help the fallen giant to its feet again.