Cabinet allows, BSNL, MTNL to return 4G spectrum
NEW DELHI (Reuters) - The Union Cabinet allowed state-run telecommunications carriers Bharat Sanchar Nigam Ltd BSNL.UL and Mahanagar Telephone Nigam Ltd (MTNL.NS) to return their 4G radio spectrum and get refunds of a total 112.6 billion rupees, in a move to help the money-losing companies.
The government will refund 67.24 billion rupees to BSNL and 45.34 billion rupees to MTNL in a staggered manner, Information and Broadcasting Minister Manish Tewari told reporters on Thursday after a meeting of the cabinet.
BSNL and MTNL had received the spectrum in 2010 but have not yet launched the services.
(Reporting by C.K. Nayak; editing by Malini Menon)
- Tweet this
- Share this
- Digg this
Trending On Reuters
India should increase public spending to boost economic growth in the medium term as there have been no signs of private investment picking up, chief government economic adviser Arvind Subramanian said on Friday. Full Article