In a bid to revive the ailing public sector telecom operator Bharat Sanchar Nigam Limited, the Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved a slew of measures including a package amounting to Rs 1.64 lakh crore and the merger of Bharat Broadband Nigam Limited (BBNL) with BSNL.
Addressing a media briefing after the cabinet meeting Union Minister of Railways, Communications, Electronics and Information Technology, Ashwini Vaishnaw said the package is a “combination of cash support and non-cash support.”
To make BSNL financially viable, the Union Cabinet has approved the revival package of BSNL amounting to Rs 1.64 lakh crore, he said.
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 fibre network by merging Bharat Broadband Nigam Limited (BBNL) with BSNL.
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