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Budget 2024 for Telecom Sector
What are the top expectations for the Telecom Sector in the upcoming Interim Budget 2024-2025? Click on to financialexpress.com and get a comprehensive idea on our dedicated page Who Gets What. Navigate through a handy ready reckoner, meticulously crafted to provide a glance at previous Budgets declarations for the sector.
Budget 2024 Announcements for Telecom Sector
Telecom Sector
- FM Niramala Sitharaman did not specify anything related to telecom industry during Interim Budget 2024 speech.
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Budget Announcements for Telecom Sector in FY2024
Telecom Sector
- Mission launched to provide PGTVs with facilities, including telecom connectivity.
- New tariff lines are also proposed to be created, which will help in better identification of products, including telecom products.
- To increase manufacturing of telephones, relief in customs duty will decrease the cost of phones, increasing demand and boosting the telecom industry.
Budget Announcements for Telecom Sector in FY2023
Telecom Sector
- Spectrum auctions are scheduled to enable the rollout of 5G mobile services within the fiscal year 2022-23.
- A design-led manufacturing scheme introduced as part of the Production Linked Incentive (PLI) Scheme to establish a 5G ecosystem.
Budget Announcements for Telecom Sector in FY2022
Telecom Sector
- Revealed that the department was allocated Rs 58,737 crore in 2021-22, marking a 44% increase from the 2019-20 actual expenditure
- Proclaimed an increased allocation to the approved revival plan for BSNL and MTNL by the Union Cabinet in October 2019.
Budget Announcements for Telecom Sector in FY2021
Telecom Sector
- Proclaimed that Ministry of Communications increased Rs 46,208 crore (129.3%) in 2020-21 compared to the revised estimate for 2019-20.
- Another Rs 13,184 crore was proclaimed to be allocated for grants provided to BSNL and MTNL for their Voluntary Retirement Scheme.
Budget Announcements for Telecom Sector in FY2020
Telecom Sector
- In the ongoing fiscal year (2019-20), government revenue from 'other communication services' is projected to be ₹58,989.64 crore, exceeding the budgeted amount of ₹50,519.81 crore
- Telecom revenue set to double, reaching ₹1.33 lakh crore
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