Comments
The government has maintained the interim budget allocation of ₹1,11,876.67 crore for the telecommunications sector. An amount of ₹82,916.20 crore has been allocated for Bharat Sanchar Nigam Limited (BSNL).
- Also read: Budget 2024: Aquaculture gets a boost
In total, it has proposed the allocation of around ₹1.29-lakh crore for telecom projects and public sector firms under the Telecom Ministry.
“The total net allocation for this demand in budget estimate (BE) 2024-25 is ₹1,28,876.67 crore (₹1,11,876.67 crore plus ₹17,000 crore). The additional provision of ₹17,000 crore is met from the balances available under Universal Service Obligation Fund (USOF) and will be utilised for schemes viz., Compensation to Telecom Service Providers, Bharatnet and Research and Development,” the Budget document said.
For BSNL, the provision is made for capital infusion for technology upgradation and restructuring the State-owned telecom firm, and implementation of voluntary retirement scheme (VRS) for both BSNL/ MTNL, the Finance Ministry said in the Budget document.
It has proposed to allocate ₹17,510 crore for pensionary benefits of the employees of the Department of Telecommunications, including employees absorbed in BSNL and employees of MTNL with effect from April 1, 2014.
The government has also proposed to allocate ₹3,668.97 crore for payment of principal amount of MTNL bonds. Further, the budget has made provision of ₹34.46 crore for Technology Development and Investment Promotion, ₹70 crore for the Champion Service Sector Scheme and ₹1,806.34 crore for Production Linked Incentive Scheme.
“This budget lays a solid foundation for India’s digital and sustainable future, paving the way for improved connectivity and technological advancement across the nation. As we move forward, the telecom infrastructure industry stands ready to support and contribute to this transformative journey towards a digitally empowered, skilled, and environmentally conscious India,” Tilak Raj Dua, Director General of the Digital Infrastructure Providers Association (DIPA), said.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.