Digital Bharat Nidhi to Fund Urban Telecom Services with $9.54 Billion Initiative

Team Finance Saathi

    03/Sep/2024

Key Points

The Digital Bharat Nidhi, worth $9.54 billion, will now fund urban telecommunication services, enhancing affordability and security.

The initiative, notified under the Telecommunications Act 2023, aims to improve telecom services in underserved areas.

Minister Jyotiraditya M. Scindia emphasizes that the fund supports India’s goal of becoming 'Viksit Bharat' by 2047.

The central government has announced a significant expansion of the Digital Bharat Nidhi, a fund totaling US$ 9.54 billion (Rs. 80,000 crore), to now include support for urban telecommunication services. This move represents a strategic shift in funding priorities, aiming to enhance telecom service affordability and security across various regions.

Under the new guidelines established by the Telecommunications Act 2023, projects funded by the Digital Bharat Nidhi must meet specific criteria, including improving both mobile and broadband services and providing support for telecommunication equipment. This initiative is designed to elevate telecom infrastructure and service quality in underserved urban areas as well as previously neglected rural and remote regions.

Minister of Communications and Development of Northeastern Region, Mr. Jyotiraditya M. Scindia, highlighted the transformative impact of these new rules. The expansion of the fund is expected to ensure equal access to telecom services, aligning with India's broader vision of achieving 'Viksit Bharat' by 2047. This initiative will not only address the evolving needs of India's telecom sector but also foster growth in technology and innovation.

As of March 2024, the Digital Bharat Nidhi had a balance of US$ 9.49 billion (Rs. 79,638 crore). Previously known as the Universal Services Obligation Fund (USOF), the Digital Bharat Nidhi now encompasses a broader range of technological needs and priorities, reflecting recent advancements in the sector. The expanded fund aims to set new benchmarks, support startups, and promote indigenous technology. Projects funded under this scheme are required to operate and maintain telecommunication networks on an open and non-discriminatory basis.

Also Read : PM Modi's Brunei and Singapore Visit: Strengthening Semiconductor and Defence Ties

This strategic shift underscores the government's commitment to modernizing India's telecommunication infrastructure and enhancing service delivery across all areas. By leveraging this significant fund, India aims to bridge the digital divide, ensuring that all citizens have access to high-quality and affordable telecom services.

For more insights and updates on the latest developments, visit Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News - Finance Saathi.

Join our Trading with CA Abhay Telegram Channel for regular stock market trading and investment calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for regular share market, news & IPO updates.

Start your stock market journey and apply for IPOs by opening a free Demat account with Choice Broking FinX.

Related News
onlyfans leakedonlyfan leaksonlyfans leaked videos