BSNL about Rs. 44,720 Crore From the Government in 2022-23

The government will infuse Rs 44,720 crore into loss-making state-owned telecom company BSNL in the next fiscal year, according to budget documents.

“The facility is designed for capital infusion for 4G spectrum, technology upgrades and restructuring in BSNL,” the explanatory note said in the document.

In addition to the capital infusion, the government will provide additional financial support of Rs. 7,443.57 crore to the telecom company for a voluntary pension scheme and Rs. 3,550 crore as subsidy-in-aid for payment of GST.

The financial support for the voluntary pension scheme (VRS) covers the implementation of the scheme at both BSNL and MTNL. The tax on goods and services (GST) will be provided to BSNL for the payment of GST on the 4G spectrum allocation, according to the documents.

The additional financial support for companies in the public sector is in addition to the Rs. 69,000-crore relief package that the government provided to them in October 2019.

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