18-November-2017
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Corporate News
 
Centre clears BSNL tower spin-off, but here is why this is 2 years too late
13-Sep-2017

Two years after giving its in-principle nod, the Union Cabinet on Tuesday approved the hiving off of the mobile towers business of BSNL into a separate company with an intent to enable the state-owned, loss-making firm to monetise its tower infrastructure and earn higher revenues.The Cabinet also approved a proposal to extend the benefit of a higher gratuity ceiling of Rs 20 lakh enjoyed by central government staff to employees of all PSUs, autonomous bodies and private-sector firms employing 10 or more persons, where the current limit on mandatory gratuity is Rs 10 lakh. This will require an amendment to the Payment of Gratuity Act, 1972, by Parliament.

News Source:- http://www.financialexpress.com/industry/centre-clears-bsnl-tower-spin-off-but-here-is-why-this-is-2-years-too-late/852553/