The Sam Pitroda Committee, set up by Prime Minister Manmohan Singh to devise methods to revive BSNL, has recommended rationalisation of 300,000 staff of BSNL to stem human resource costs.
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC -- falling up to 4.45 per cent.
Offering lucrative incentives, Telecom Minister Ravi Shankar Prasad on Sunday invited US technology companies to start manufacturing in India, for meeting domestic needs and exports, under the 'Make In India' initiative.
With hopes of raising funds through an initial public offer (IPO) or selling a stake to a strategic investor fading due to stiff opposition from the unions, the government is working on a proposal for a private placement of shares for Bharat Sanchar Nigam Ltd (BSNL), India's fifth-largest telecom company,
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
The telecom industry is moving towards a five-plus one model.
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
DoT committee rejects most Trai suggestions for freeing airwaves for sale.
With the green cover gone, the bald roads to Puri are now reigned by lorries laden with electric poles, ambulances, fire service vehicles and cranes, signalling the rebuilding effort is in the works.
State-run BSNL on Saturday approached telecom tribunal TDSAT against sector regulator TRAI's decision to cut a levy paid by private operators to the public sector company for its rural operations.
A new dimension will be added to the India's growth story by Bharti Airtel's acquisition of Kuwait's Zain Telecom, besides enhancing the country's brand equity
The government last month had approved a plum Rs 69,000 crore revival package for BSNL and MTNL that includes merging the two loss-making firms, monetising their assets and offering VRS to employees so that the combined entity turns profitable in two years.
India needs $70bn of private investment in infrastructure and will not get it without a level playing field.
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office estimated that India's GDP grew by 8.5% in the financial year 2010-11 and not at 10.3% as previously estimated.
The CBI has completed its probe against former telecom minister Dayanidhi Maran and others in 2G scam and will approach the Centre for taking sanction for prosecution, the agency told the Supreme Court.
Telecom tribunal TDSAT has decided to hear all three petitions against TRAI filed by BSNL and COAI collectively on May 26.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Zee and Star, the two largest media companies in India, are undergoing some radical ownership changes. What could it mean? Vanita Kohli Khandekar attempts an answer.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
BSNL will now offer free roaming from this month onwards.
They said protests took place at around a dozen places in which several protesters were injured.
Norwegian telecom firm Telenor, which won licences to operate in six big states in November, is hoping for a further reduction in the start price for the second round of spectrum auction in March.
'The workers's dance of wilful destruction has the potential to kill all investments planned in India by any foreign entity,' argues Dr Sudhir Bisht.
State-run BSNL Friday said it may directly talk to Zain Telecom to acquire a controlling stake after the exclusive talks period between the consortium Vavasi and the Kuwaiti firm ends.
Others taxed at 5, 12, 18, 28%
Officially confirming the change in tack for the first time after months of speculation, Kuldeep Goyal, BSNL's chairman and managing director, told Business Standard, "Foreign partners definitely bring in some expertise that will help the company improve its performance."
Tata Teleservices on Wednesday joined state-owned BSNL for sharing infrastructure across the nation, in a first such partnership that would help the private firm expand its GSM network expeditiously.
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
Complimenting West Bengal government, Mukesh Ambani said, "We have got all the approvals in a time-bound manner."
GSM based mobile service providers jointly added over 44 lakh new customers, taking their cumulative customer base to 67.88 crore in September, according to data released by industry body COAI on Wednesday.
The company is seeking consultants for mergers and acquisitions, strategic partnerships, acquiring telecom licences outside India, a senior BSNL official said. BSNL, with a view to establishing itself as a global player in the telecom sector and to achieve inorganic growth, is aiming at expanding its area of operations, the official said.
He was chargesheeted for the offences punishable under section 120-B
Even as the implementation of MNP is likely to be delayed from the scheduled date of September 20, the PSU, which hopes to attract substantial number of users from the rivals like Bharti Airtel and Reliance Communications, has called for expression of interest for MNP gateway.
Facebook owns WhatsApp and Microsoft owns Skype, the two services that are at the centre of the current "net neutrality battle".
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