The government will also provide additional financial support of Rs 7,443.57 crore to BSNL for a voluntary retirement scheme.
Financial support for voluntary retirement scheme includes implementation of scheme at both BSNL, MTNL
The government will infuse Rs 44,720 crore into loss-making state-owned telecom firm BSNL in the next financial year, according to Budget documents.
"The provision is made for capital infusion for 4G spectrum, technology up-gradation, and restructuring in BSNL," the explanatory note in the document said.
Besides the capital infusion, the government will provide additional financial support of Rs. 7,443.57 crore to the telecom firm for a voluntary retirement scheme and Rs. 3,550 crore as grant-in-aid for payment of GST.
The financial support for the voluntary retirement scheme (VRS) includes the implementation of the scheme at both BSNL and MTNL. The support for goods and services tax (GST) will be provided to BSNL for the payment of GST on the allocation of 4G spectrum, according to the documents.
The additional financial support for the public sector firms is in addition to the Rs. 69,000-crore relief package the government provided them in October 2019.
Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.