The main reasons attributed for the steep decline were payment of Rs. 18,500 crore towards 3G spectrum and broadband wireless access (BWA) spectrum auction price and payment of Rs. 5,301 crore to LIC towards group leave encashment schemePTI New Delhi: Dragged down by payments for 3G, BWA spectrum auction and higher expenses, state-run telecom firm BSNL’s cash reserve dwindled to Rs. 2,500 crore in 2010- 2011 from a hefty Rs. 30,000 crore two years back.
“As per the audited books of account, cash reserve of BSNL has gone down from Rs. 30,343 crore as on 31 March, 2010 to Rs. 2,500 crore on 31 March, 2011,”
Telecom minister Kapil Sibal told Lok Sabha in a written reply. BSNL incurred net losses of Rs. 6,384 crore during the financial year ended on 31 March, 2010, he added.
In response to another query, minister of state for communications and IT Milind Deora said BSNL had Rs. 5,231 crore as outstanding dues from customers as on 30 November, 2011.
Unlisted BSNL has over three lakh employees. Sibal said the government is taking various steps to improve the financial health of the company. Consolidation of infrastructure, strengthening of revenue streams through focus on broadband and enterprise business, focus on customer care and push on data usage are some steps the company is taking in this regard, he said.
