BSNL reviving process started
The Government of India has approved BSNL-MTNL merger and has announced the allocation of 4G spectrum alongside clearing relief package. The Union Cabinet approved the merger on Wednesday and has also cleared relief package. The overall relief package includes sovereign bonds of Rs. 15,000 crore, monetization of Rs. 38,000 crore assets, Rs. 29,937 crore for VRS, and Rs. 3674 crore for GST (goods and services taxes).
Indian Government has also announced the 4G spectrum allocation on an administrative basis and is worth Rs. 20,140 crore. The spectrum will be allocated to BSNL and MTNL within a month. It is estimated that BSNL would require Rs. 10,000 crore for the rollout of 4G services and MTNL would require Rs. 1,100 crore.
The Government of India took very good decision, the BSNL should compete with reliance Jio and other 4G network service provider.