<p> The union cabinet Thursday approved refunding Rs.11,258.48 crore to MTNL and BSNL which the two state-run telecom firms had paid for fourth generation (4G) spectrum in the 2010 auction.<br /><br /></p>.<p>"BSNL will be refunded Rs.6,724.51 crore and MTNL will be given Rs.4,533.97 crore in due course... it would be done in a staggered manner over a period of time," Manish Tewari, information and broadcasting minister, told reporters after a cabinet meeting here.<br /><br />He said these refunds will help in the economic revival of the two companies.<br /><br />The proposal was approved by the Group of Ministers, headed by Finance Minister P Chidambaram, tasked to chart the course of profitability of both PSUs in its last meeting on Sep 12.<br /><br />BSNL had offered to surrender spectrum in six large circles -- Gujarat, Karnataka, Tamil Nadu, Kolkata, Maharashtra and Andhra Pradesh -- while MTNL had offered to give up spectrum in Delhi and Mumbai.</p>
<p> The union cabinet Thursday approved refunding Rs.11,258.48 crore to MTNL and BSNL which the two state-run telecom firms had paid for fourth generation (4G) spectrum in the 2010 auction.<br /><br /></p>.<p>"BSNL will be refunded Rs.6,724.51 crore and MTNL will be given Rs.4,533.97 crore in due course... it would be done in a staggered manner over a period of time," Manish Tewari, information and broadcasting minister, told reporters after a cabinet meeting here.<br /><br />He said these refunds will help in the economic revival of the two companies.<br /><br />The proposal was approved by the Group of Ministers, headed by Finance Minister P Chidambaram, tasked to chart the course of profitability of both PSUs in its last meeting on Sep 12.<br /><br />BSNL had offered to surrender spectrum in six large circles -- Gujarat, Karnataka, Tamil Nadu, Kolkata, Maharashtra and Andhra Pradesh -- while MTNL had offered to give up spectrum in Delhi and Mumbai.</p>