Cabinet approves third revival package for BSNL with a total outlay of `89,047 crore
The package includes allotment of 4G and 5G spectrum for BSNL through equity infusion, an official statement said
The Union Cabinet on Wednesday approved the third revival package for BSNL with a total outlay of Rs 89,047 crore.
The package includes allotment of 4G and 5G spectrum for BSNL through equity infusion, an official statement said.
Also, the authorized capital of BSNL will be increased from Rs 1,50,000 crore to Rs 2,10,000 crore.
The package comprises allotment of premium wireless frequencies 700 MHz band spectrum worth Rs 46,338.6 crore; 70 MHz of frequencies in 3300 MHz band worth Rs 26,184.2 crore; frequencies in 26 GHz band worth Rs 6,564.93 crore; in 2500 MHz band worth Rs 9,428.2 crore and Rs 531.89 crore for miscellaneous items.
The spectrum allocation will enable BSNL to roll out pan-India 4G and 5G services, 4G coverage in rural and uncovered villages under various connectivity projects, provide Fixed Wireless Access (FWA) services for high-speed internet and provide services/spectrum for Captive Non-Public Network (CNPN).
The government had provided first revival package worth Rs 69,000 crore for BSNL and MTNL in 2019. The second package worth Rs 1.64 lakh crore was announced in 2022 .
It provided financial support for capex, viability gap funding for rural landlines, financial support for de-stressing the balance sheet, and settlement of AGR dues, merger of BBNL with BSNL, etc. As a result of these two packages, the total debt of BSNL has reduced from Rs 32,944 crore to Rs 22,289 crore.