The Union Cabinet approved Rs 1.64 lakh crore revival package for Bharat Sanchar Nigam Limited (BSNL) on Wednesday.
Addressing a media briefing Union Minister of Railways, Communications, Electronics, and Information Technology Ashwini Vaishnaw said, “It is a combination of cash support and non-cash support.”
“The attrition of customers has stopped. Revenue which was going down has become stable at Rs 19,000 crore,” Ashwini added.
Earlier in 2019, the package announced by the government helped BSNL stabilize its financial conditions.
Elaborating on the package the minister said the revival package has three elements, to improve services, de-stress the balance sheet, and expansion of fiber network.
Moreover, the proposal to merge Bharat Broadband Network Limited (BBNL) with BSNL has been approved by the Union Cabinet. Through this merge, BSNL will get an additional 5.67 lakh kilometers of optical fiber. This has been laid across 1.85 lakh village panchayats in the country using the Universal Service Obligation Fund (USOF).