Microfinance

Government of India to invest 18,000 crore for Broadband push over next 3-5 years

The government of India is planning to spend Rs 18,000 crore over three years to lay a five lakh km optic fibre cable (OFC) network to reach every gram panchayat.

The formation of a Group of Ministers (GoM) to monitor and review the implementation of this broadband initiative is also being considered. Whether the GoM will invite the private sector to participate in the planning of this initiative and focus on wireless as a means of delivery, is not known.

It is expected that an infrastructure company will be carved out of BSNL to implement the project and work with other PSUs like Power Grid of India and RailTel. The venture is likely to be supported financially by the Universal Services Obligations Fund (USOF) of the Government, which holds a large amount of unutilized resources.

The Economic Times has more details of the Scheme – 18 K Crore Broadband for India

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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