None
Skip to mainThe government on Wednesday announced a massive revival package of nearly Rs 70,000 crore for the ailing telecom PSUs BSNL and MTNL as it looks to nurse back the “strategic”, but heavily bleeding, companies to health and profitability over the next three-four years.
The revival package aims to make the loss-making companies competitive again by giving them access to 4G spectrum; helping them retire a large number of employees through an attractive VRS package, and monetising their locked assets such as large swathes of land, and telecom towers.
The VRS package approved by the Cabinet will give eligible employees above the age of 53.5 years 125 per cent of income that they would have earned by serving the company till the age of 60 years. Employees in the age bracket of 50 to 53.5 years opting for the VRS will get benefit in the range of 80 to 100 per cent of the remuneration to be paid in the balance period of their service. For the package, the government has approved Rs 17,169 crore as ex-gratia component and Rs 12,768 crore for preponement of pensionary benefitTelecom Minister Ravi Shankar Prasad said that the VRS is voluntary; nobody can be forced to opt for it.
BSNL has 1.76 lakh employees across India while MTNL has around 22,000 employees.
🕑 24 Mar, 2024 08:01 AM
Minutes of the DC/JCM (Railways) and Staff Side Meeting held on 15-16 Feb
🕑 20 Mar, 2024 09:23 AM
Pensioners Samaj on discrematory nature of railway Notional Increment order
🕑 20 Mar, 2024 09:14 AM
BSNL non-executive staff wage revision: Record of Joint Committee discussion
🕑 19 Mar, 2024 10:36 AM
50% for CDA pattern employees of CPSEs in 7th CPC pay
🕑 18 Mar, 2024 01:16 PM
Changes in Reimbursement of Children Education Allowance as per NEP 2020
🕑 18 Mar, 2024 01:13 PM
Holiday declare for 14th April, 2024 – Birthday of Dr. B.R. Ambedkar
🕑 18 Mar, 2024 01:04 PM
Revised Flexible Complementing Scheme for Scientists
🕑 15 Mar, 2024 09:33 AM
Dearness Relief to Central Government pensioners from January 2024
🕑 14 Mar, 2024 02:07 PM
Govt bans 18 vulgar 18 OTT. See the list here
🕑 08 Mar, 2024 01:49 PM
Pension Scheme Gains Traction Across States, Despite Central Hurdles
🕑 20 Feb, 2024 11:17 PM
CGHS rate for general surgery applicable from February 1, 2024
🕑 08 Feb, 2024 10:19 AM
No loan interst change as RBI maintains repo rate at 6.50% for the 6th time
🕑 07 Feb, 2024 08:28 PM
The Evolving Role of Pay Commissions in India: Mandatory or Myth?
🕑 05 Feb, 2024 03:50 PM
How much you take home increase after DA hike?
🕑 03 Feb, 2024 07:59 PM
Guaranteed Benefits in NPS: Election Gambit or Endgame for Retirees?
🕑 03 Feb, 2024 07:46 PM
Budget 2024. Benefit up to ₹ 25000. One in eight taxpayers to benefit