In a written reply to the Lok Sabha, Kapil Sibal, Minister of Communications and IT, has highlighted Bharat Sanchar Nigam?s (BSNL) financial performance over the last year.
Sibal has reportedly said that the incumbent?s cash reserve has decreased from around Rs 300 billion in March 2010 to Rs 25 billion in March 2011.
He attributed the decline to the substantial sum paid by BSNL for 3G and BWA spectrum and the sum it pumped in for its group leave encashment scheme.
That apart, the incumbent also paid substantial amounts while implementing a revised pay scale and in tax liabilities
He added that BSNL?s net losses during the period stood at Rs 63.84 billion during the financial year ended March 31, 2010.
