Modi government doing ‘privatization of profits and nationalization of losses’
The shares of the country’s third largest telecom company Vodafone Idea fell 17 percent in the early business on BSE. The company’s board says that the interest of the government will be changed to equity. It includes the interest of spectrum auction installments and AGR. This will lead to 35.8 percent in the company and it will become the largest stock holder in the company.
Vodafone Idea said in a press release that the government (GOVT) stake in the company will be 35.8 percent. Promoter Vodafone Group’s share will be about 28.5 percent and Aditya Birla Group will be 17.8 percent.
After this news, the company’s shares were seen to see a huge decline. At 11 o’clock in the morning, it was trading at Rs 13.46 per cent. The company’s share on NSE fell to Rs 12.65, while in the last session it was closed at Rs 14.85. The company says that the interest of the government can be Rs 16,000 crore. Equity shares will be shared at 10 rupees per share. In debt, the government had given several options through the Telecom Reforms Package. It involved relief on payment of spectrum auction for four years and the payment of AGR dues. The Board of Vodafone Idea was held on Monday, in which the proposal to change the interest of the spectrum auction and the interest of AGR. The company was outstanding at Rs 58254 crore in which he has paid Rs 7854 crore. Reliance Geo had started a price war in the country’s telecom sector in 2016, which caused Vodafone damaged.
On the one hand, the government is buying a stake in the loss-making private company Vodafone Idea, that is, in a way, it is making it government. On the other hand, BSNL, which gives profit to the government, is privatizing. There is a lot of discussion on social media about this.
Yuva Halla Bol chief Anupam said in a tweet – The government that sold BSNL is now buying loss-making Vodafone Idea! We have been saying from day one that stop talking about ‘privatization’. The Modi government is ‘privatizing profits and nationalizing losses’. Due to this inflation is increasing and jobs are getting reduced. The correct term for this is ‘modification’.
BSNL को बेचने वाली सरकार अब घाटे में चल रही Vodafone Idea को खरीद रही है!
— Anupam | अनुपम (@AnupamConnects) January 11, 2022
हम पहले दिन से कह रहे हैं कि 'निजीकरण' बोलना बंद करिए। मोदी सरकार 'मुनाफे का निजीकरण और घाटे का राष्ट्रीयकरण' कर रही है। इसी कारण महँगाई बढ़ रही और नौकरियां कम हो रही हैं।
इसके लिए सही शब्द है 'मोडानीकरण' pic.twitter.com/GHpnPnJrBT
