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₹74,000 cr Bailout Plan for Reviving MTNL, BSNL Mulled Over by Govt
July 05, 2019
According to a report by the Times of India, the Center is pondering over a 74,000-crores bailout plan for the revival of Mahanagar Telephone Nigam Ltd. (MTNL) and Bharat Sanchar Nigam Ltd. (BSNL) i.e. the two govt-owned telecom giants that have been reeling under pressure due to massive competition from private players like Reliance Jio and Bharti Airtel. The companies are also running in losses due to a high expense ratio between revenue and wages due to the transfer of a large number of employees to BSNL by the government.
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