BSNL, MTNL package cleared

Why is it in the news?
  • Union Cabinet on Wednesday approved a package worth nearly 70,000 crore.
  • The cabinet also gave an in-principle nod for the merger of the two entities.
  • Aim: to revive the beleaguered state-owned telecom firms BSNL and MTNL.
More in the news
  • Package:
(1) 4G spectrum worth ₹20,000 crore will be administratively allotted to the two firms.
(2) Their debt will be restructured by raising bonds with sovereign guarantee worth Rs. 15,000 crore.
(3) A voluntary retirement scheme, on an outlay of 30,000 crore, will be offered to the employees.
(4) The government also plans to monetise the assets of the two firms worth ₹38,000 crore.
Source
The Hindu.
Posted by Jawwad Kazi on 24th Oct 2019
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