Rs 1.64 lakh crore revival package for BSNL gets Cabinet nod

The Union Cabinet on Wednesday cleared a Rs 1.64-lakh crore package for revival of state-owned telecom service provider Bharat Sanchar Nigam Ltd (BSNL), with the focus on fresh capital for upgrading the loss-making company’s network and allocating spectrum for it to offer 4G services, de-stressing its balance sheet and augmenting its fiber network.

The four-year revival strategy follows a 2019 booster, when the government had announced a Rs 70,000-crore package mainly to cover a voluntary retirement scheme for BSNL employees.

Of the total revival package announced Wednesday, Rs 43,964 crore will be a cash component, while the remaining Rs 1.2 lakh crore of non-cash component will be spread over four years.