Budget 2025: Telecom stocks rose amid govt allocates Rs 95,298 crore to Telecom & IT sectors
The government provides compensation to telecom service providers for creating infrastructure seeking a substantial jump, Rs 28,400 crore, up from Rs 13,700 crore last year.
Budget 2025: Telecom stocks rose amid govt allocates Rs 95,298 crore to Telecom & IT sectors
Telecom Stocks like HFCL, ITI Ltd, and MTNL surged as Finance Minister Nirmala Sitharaman proposed Rs 95,298 crore for the information technology and telecommunications sectors.
While presenting the Union Budget for 2025-26, Sitharaman also proposed to reduce the basic customs duty on carrier-grade ethernet switches from 20% to 105, bringing the component at par with non-carrier-grade ethernet switches.
The government provides compensation to telecom service providers for creating infrastructure seeking a substantial jump, Rs 28,400 crore, up from Rs 13,700 crore last year.
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In the full Budget for 2024-25, presented in July 2024, the Centre announced a substantial allocation of Rs 1.28 lakh crore for telecom projects and public sector firms under the Department of Telecommunications, with a significant emphasis on BSNL.
Out of the total budget, over Rs 1 lakh crore was earmarked specifically for BSNL and its counterpart, Mahanagar Telephone Nigam Limited (MTNL). Notably, Rs 82,916 crore was designated for BSNL's technology upgrades and restructuring efforts. This investment is crucial for BSNL to modernize its infrastructure and compete effectively in the rapidly evolving telecom landscape.
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