It is ironic that on the second day of the hotly contested auctions among private telecom players for 5G spectrum, the government should announce a Rs 1.64-trillion lifeline for the ailing Bharat Sanchar Nigam Ltd (BSNL). The revival programme reveals how far the state-owned telecom service provider lags the technology curve. The package includes an administrative allocation of spectrum for 4G services, support for an indigenously developed 4G stack, viability gap funding for rural wireline operations, and fund-raising via sovereign guaranteed bonds, apart from an increase in government ownership by converting adjusted gross revenue (AGR) losses into equity and a preference share issue. The merger of Bharat Broadband Network Ltd, which was set up but failed to provide quality rural connectivity, with BSNL has also been approved.
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