Keep hands off USO fund, it's our money: Telecom firms to satellite players

The USO fund was set up by the government in 2003 to provide a subsidy for inclusive communication growth.

Telcos and satellite communication players are eyeing for a share of the Rs 58,764 crore war chest available through the Universal Service Obligation (USO) fund.   

In a speech on Wednesday, Mukesh Ambani, chairman of Reliance Industries, urged the government for the first time to use the USO fund to subsidise smart phones for select target groups.

The fund was set up by the government in 2003 to provide a subsidy for inclusive communication growth. 

Nearly 300-350 million 2G users have still not shifted to 4G because of the high cost of upgrading, which includes the cost of buying a new mobile phone.