The Cabinet Committee on Economic Affairs (CCEA), which is headed by Prime Minister Narendra Modi, has given it approval to the proposal, an official statement said today.
"This decision will help MTNL keep floating in the highly competitive telecom sector. It will also help MTNL arrange finances to meet its basic financial commitments like operations and maintenance of their telecom network," it added.
MTNL reported a book profit of Rs 2,348.49 crore for 2013-14, resulting in a MAT liability of Rs 492.26 crore.
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