A lot of money is going to rain on BSNL. The Finance Ministry has decided to sell the assets of the government telecom company BSNL, which will earn the government around Rs 16,000 crore. BSNL has landed at many prime locations in Delhi, Mumbai, and Chennai. The government has identified about 600 such lands. The government will sell the assets of MTNL along with BSNL.
The government has set a target of Rs 10 lakh crore.
If ET's report is to be believed, the government has started d BSNL monetization drive. The government started the assets monetization process in the year 2021. The government had planned to raise about Rs 6 lakh crore from this drive. The government had set a target of raising Rs 2.5 lakh crore for the financial year 2022, which became Rs 2.3 lakh crore in the financial year 2023. Now the government has set a target of monetization of Rs 10 lakh crore.
The government took the proposal forward.
The government has taken the National Land Monetization Corporation and the Department of Public Enterprises with it to take this proposal forward. Finance Minister Nirmala Sitharaman announced that the earnings from BSNL's monetization process will be spent on building the company's new infrastructure.
B SNL's infrastructure will be strengthened
Let us tell you that BSNL is launching its 4G service in every area of India. Also, it is rapidly moving towards 5G. Apart from this, BSNL is trying to provide broadband service to every village and city. However, on the ground, BSNL is facing direct competition from Jio and Airtel. In such a situation, BSNL has to strengthen its infrastructure rapidly. This is the reason why the government wants to give a financial relief package to BSNL and put the company on par with private companies by selling assets. To achieve this plan, the government merged the work of MTNL with BSNL.
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