New Delhi, NFAPost: According to Budget documents, the Centre will be infusing ₹44,720 crore into loss-making state-owned telecom company Bharat Sanchar Nigam Limited in the next fiscal.
Besides the capital infusion, the government will provide additional financial support of Rs 7,443.57 crore to the telecom firm for a voluntary retirement scheme which includes the implementation of the scheme at both BSNL and MTNL and Rs 3,550 crore as grant-in-aid for payment of GST.
Union Finance Minister Nirmala Sitharaman also stated that the government will hold a spectrum auction this year to help commercial telecom carriers put out 5G services in the fiscal year 2022-23. She believes that the telecommunications industry, in general, and 5G in particular, can help to drive growth and create jobs.
“This will promote R&D and commercialisation of technologies and solutions. Our mission is that all villages and their residents should have the same access to e-services, communication facilities and digital resources as urban areas and their residents,” FM said.
The additional financial support for the public sector companies is in addition to the Rs 69,000-crore relief package the government provided them in 2019.
