Shri Ashwini Vaishnaw, the Union Minister of Communications & Minister of Electronics and IT, has approved a third revival package of INR 89,047 crore for BSNL. The funds shall help develop the 4G and 5G service offerings of BSNL. Mr. Mahendra Nahata, MD of HFCL details the importance and benefits of the package.

Jun 7, 2023

Shri Ashwini Vaishnaw, the Union Minister of Communications & Minister of Electronics and Information Technology, has approved a third revival package for the Bharat Sanchar Nigam Limited (BSNL) with a total outlay of INR 89,047 crore, primarily for expenses related to spectrum for 4G and 5G services.

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Mr. Mahendra Nahata, Managing Director of Himachal Futuristic Communications Limited (HFCL), expressed, “BSNL is of strategic importance to the nation and the Government’s revival package will go a long way to safeguard national interest while also promoting competition and consumer choice. The relief package of INR 89,000 crore for BSNL will help it emerge as a strong player, upgrade the operators’ network, help deleverage its balance sheet and it will be a crucial step towards ensuring growth of the telecom sector. It will further result in powering 4G networks in rural India, thereby unlocking last-mile connectivity and bridging the existing digital divide. With strong data governance practices and a robust cyber resilience framework, the revival of BSNL will help in building resilient network security solutions.”

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He further explained, “The increased authorized capital also reflects the Government’s commitment towards BSNL’s capabilities of driving a larger vision and creating a level-playing field while also developing a consumer-centric telecom landscape. This strategic decision will further encourage key players like BSNL to contribute significantly to achieving our Government’s vision of building an indigenous 4G/5G India tech stack which will be a huge enabler towards encouraging indigenous manufacturing, innovation, and achieving the vision of an ‘Atma Nirbhar’ Bharat. As a significant contributor in the telecommunication industry, we foresee this strategic initiative resulting in a plethora of opportunities, and enabling organizations like HFCL to capitalize on our combined field expertise and strong technological capabilities, to offer world-class telecom services.”