After the initial reports about the new government looking to revive the state run telecom operators, the government has now set aside a massive investment for the operators.
The Indian government has announced a massive investment of Rs. 39458 crore for BSNL and MTNL over a period of five years. The initiative is expected to help revive both the state-run operators. Apparently BSNL owes Rs. 6448 crore as of June 2014, whereas MTNL owes Rs. 14760 crore. With this both the operators are expected to make a comeback over time.
Speaking about the investment, Ravi Shankar Prasad, Telecom minister, said, “The financially-stressed public sector telecom companies that together have a debt of Rs 21,208 crore as of June end, face declining revenue due to loss of market share, increasing expenditure and inability to invest in network expansion. The government is quite serious to improve the health of the two bodies.”
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