Cabinet approves revival package of BSNL worth Rs 1.64 lakh Cr

Cabinet approves revival package of BSNL worth Rs 1.64 lakh Cr

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Cabinet approves revival package of BSNL worth Rs 1.64 lakh Cr

To make BSNL financially viable, the Union Cabinet chaired by Prime Minister Narendra Modi approved the revival package of BSNL amounting to Rs 1.64 Lakh Cr.

Revival measures approved by the Cabinet focus on infusing fresh capital for upgrading BSNL services, allocating spectrum, de-stressing its balance sheet, and augmenting its fiber network by merging Bharat Broadband Nigam Limited (BBNL) with BSNL.

Key Points: Upgrading BSNL services

Administrative allotment of Spectrum: To improve existing services and provide 4G services, BSNL will be allotted Spectrum in 900/1800 MHz band administratively at the cost of Rs 44,993 Cr through equity infusion. With this spectrum, BSNL will be able to compete in the market and provide high speed data using their vast network including in rural areas.

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Financial support for capex: To promote indigenous technology development, BSNL is in process of deploying Atmanirbhar 4G technology stack. To meet the projected capital expenditure for next 4 years, the Government will fund a capex of Rs 22,471 Cr. This will be a significant boost to development and deployment of Atmanirbhar 4G stack.

Viability gap funding for rural wireline operations: Despite the commercial non-viability, BSNL has been providing wireline services in rural/remote areas to meet the social objectives of the Government. Government will provide Rs 13,789 Cr to BSNL as viability gap funding for commercially unviable rural wire-line operations done during 2014-15 to 2019-20.

Increase in authorized capital: The authorized capital of BSNL will be increased from Rs 40,000 Cr to Rs 1,50,000 Cr in lieu of AGR dues, provision of capex and allotment of spectrum.

Important facts for upcoming exams from the above Current Affairs Topic

• President of India: Droupadi Murmu 
• Vice President of India: Venkaiah Naidu 
• Prime Minister of India: Narendra Modi 
• Chief Justice of India: N. V. Ramana 
• Lok Sabha Speaker of India: Om Birla 
• Capital of India: New Delhi 
• Largest city of India: Mumbai 
• Official languages of India: Hindi / English 
• Currency of India: Indian rupee (₹) (INR) 
• Total Population of India 2018 estimate: Neutral increase 1,352,642,280