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MTNL Borrowing Money To Meet Day to day Requirement Manoj Sinha
NEW DELHI . MTNL has been hit hard by debt and it is borrowing money to meet its day-to-day requirements, Union Minister Manoj Sinha said on Friday.
"Mahanagar Telephone Nigam Limited (MTNL) is borrowing money to meet its day-to-day requirement," Sinha said in a written reply to the Rajya Sabha.
Total debt on MTNL reached Rs 19,418.23 crore at the end of December 31, 2016, from Rs 11,542.3 crore in 2012-13, according to the data shared by the minister. The debt is over six times MTNL's annual revenue registered in 2015-16. Millennium post
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