Follow us on
Welcome Guest! You are here: Home » Business & Economy
Cabinet okays refund to BSNL, MTNL for 4G spectrum surrender
Thursday January 9, 2014 8:05 PM, IANS

The union cabinet Thursday approved refunding Rs.11,258.48 crore to MTNL and BSNL which the two state-run telecom firms had paid for fourth generation (4G) spectrum in the 2010 auction.

"BSNL will be refunded Rs.6,724.51 crore and MTNL will be given Rs.4,533.97 crore in due course... it would be done in a staggered manner over a period of time," Manish Tewari, information and broadcasting minister, told reporters after a cabinet meeting here.

He said these refunds will help in the economic revival of the two companies.

The proposal was approved by the Group of Ministers, headed by Finance Minister P Chidambaram, tasked to chart the course of profitability of both PSUs in its last meeting on Sep 12.

BSNL had offered to surrender spectrum in six large circles -- Gujarat, Karnataka, Tamil Nadu, Kolkata, Maharashtra and Andhra Pradesh -- while MTNL had offered to give up spectrum in Delhi and Mumbai.

Share this page
Note: By posting your comments here you agree to the terms and conditions of
comments powered by Disqus
| Quick links
Contact us
Subscribe to: RSS » Facebook » Twitter » Newsletter Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.
© 2012 Awaz Multimedia & Publications. All rights reserved.