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Government of India approve an 26000 crores for installation of 5G network tower in 500 days

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The government has approved Rs 26,000 crore to install 25,000 mobile towers over the next 500 days, Communications Minister Ashwini Vaishnaw said at the Digital India Conference of State IT Ministers at the India Mobile Congress. Through this, the government aims to provide last-mile internet connectivity to the far flung areas.

The project will be implemented by state-owned Bharat Broadband Network Ltd, which was recently merged into the Bharat Sanchar Nigam Ltd. The cost of the project will be born out of the Universal Service Obligation Fund (USOF), which has a balance of Rs 59,736 crore as of August end. USOF is a fund set up by the government to provide internet connectivity to rural and far flung areas.

The state-run telecom operator is expected to launch its 4G services in November now and then target to cover pan-India with 4G in next 18 months. Simultaneously, the company is also targeting to launch 5G services by August 2023, as recently announced by telecom minister Ashwini Vaishnaw.

Recently, the government also approved a Rs 1.64 trillion revival package from BSNL. The revival package will help BSNL to fasten rollout of its 4G network, de-stress its balance sheet, and improve network services, among other things.

“The current approval to install 25,000 towers is in addition to the BSNL revival package and the expenses will be covered through USOF,” the official said.

The telecom operators, however, may not be in favour of the government giving BSNL additional incentives above the revival package.

“If this 25,000 is over and above the BSNL bailout package announced recently then it is more harming as it is against the level playing field,” an executive from a telecom company said, adding that BSNL has been given USOF related rollout without going for the tendering process.

“Denying the telecom service providers to bid is against the spirit of USOF as bidding would have resulted in best price to government and lower the government’s cost overall,” the telecom company executive said.

Currently, telecom operators pay 8% of their adjusted gross revenue as license fee. Of this 5% goes into the universal service obligation fund (USOF) and balance 3% to the exchequer.

As of August 31, about 47% of USOF is unutilised, and telecom operators want the government to either reduce or remove this levy till the funds are fully utilised.

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Google Play introduces UPI Autopay payment in India

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Google announced on Tuesday that it is introducing UPI Autopay as a payment option for subscription-based purchases on Google Play in India.

Introduced under UPI 2.0 by NPCI (National Payments Corporation of India), UPI Autopay helps customers make recurring payments using any UPI application that supports the feature.

“With the introduction of UPI Autopay on the platform, we aim to extend the convenience of UPI to subscription-based purchases, helping many more people access helpful and delightful services – while enabling local developers to grow their subscription-based businesses on Google Play,” Saurabh Agarwal, Head of Google Play Retail & Payments Activation – India, Vietnam, Australia and New Zealand said in a statement.

Moreover, UPI Autopay makes setting up subscriptions easy.

Users need to simply tap on the payment method in the cart, select “Pay with UPI,” and then approve the purchase in their supported UPI app after selecting a subscription plan to purchase.

Google Play helps consumers transact safely and seamlessly in more than 170 markets, according to the report.

Also, the platform supports over 300 local payment methods in over 60 countries, removing complexities associated with finding and integrating local payments.

UPI is one such payment option, introduced on the Play Store in India in 2019.

In India, UPI has transformed the mobile payment framework, and on Google Play as well, many people are enjoying and using apps that take advantage of UPI-based transactions, the statement added.

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Invest Karnataka 2022 paved way for Rs 9.82 lakh cr investment: CM Bommai

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Karnataka Chief Minister Basavaraj Bommai announced at the concluding ceremony of the 3-day Global Investors Meet (GIM) in Bengaluru that “investments totaling about Rs 9.82 lakh have been committed in diverse sectors in the state.” Bommai thanked the participants in the event and investors.

Addressing the gathering, the CM said, “This GIM is different from other such Investor Meets as this has been organised during challenging times and has succeeded in showing us the way forward. What Karnataka thinks today, India thinks tomorrow. We will work with the investors shoulder to shoulder to make all these investments fructify on the ground.”

Thanking all the investors and delegates who participated in the GIM 2022, Karnataka Large and Medium Industries Minister, Murugesh Nirani, said “Invest Karnataka has laid a strong foundation for the development of Karnataka in the next five years. I am happy that we have met the core objective of this GIM, which is to bring in investments in diverse sectors and create jobs, and take industries beyond Bengaluru.”

The valedictory session was also attended by Bhagwanth Khuba, Union Minister of State for New and Renewable Energy, Chemicals & Fertilizers.

Inaugurated by Prime Minister Narendra Modi virtually on Wednesday, the event culminated on Friday with the valedictory session in which Chief Minister Basavaraj Bommai re-assured investors from all across the world of sustained support by his government.

Among top industrialists, Chairman of Jindal Group, Sajjan Jindal; Vice Chairman of Toyota Kirloskar Motor Pvt Ltd, Vikram S. Kirloskar; Chairman, Wipro, Rishad Premji; Vice Chairman, Bharti Enterprises, Rajan Bharti Mittal; CEO, Adani Ports and SEZ, Karan Adani and MD, Sterlite Power, Pratik Agarwal shared their experience in Karnataka and expressed continued interest in the state.

The Global Investors Meet witnessed 30+ immersive sessions spread across three days. These sessions were a mix of innovative formats such as panel discussions, fireside chats, and TED-style talks.

In addition to the speaker sessions, a number of networking events, cultural performances, business exhibitions (with 300+ exhibitors), and country sessions ran parallelly across the 3 days. The country sessions were hosted by partner countries — France, Germany, Netherlands, South Korea, Japan and Australia.

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Unfortunately, there is no choice: Musk on Twitter layoffs

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Elon Musk on Saturday said that there is no choice other than brutally firing half of Twitter’s workforce as the company is losing over $4 million a day.

After axing nearly 3,800 employees across the globe, including in India, the new Twitter CEO said that he has given three months of severance to everyone who has been asked to go.

“Regarding Twitter’s reduction in force, unfortunately there is no choice when the company is losing over $4M/day,” Musk tweeted.

“Everyone exited was offered 3 months of severance, which is 50 per cent more than legally required,” he added.

Musk has laid off people across the departments at Twitter, eliminating several teams across the globe.

He also said that Twitter has seen a massive drop in revenue as activist groups are putting undue pressure on its advertisers.

“Again, to be crystal clear, Twitter’s strong commitment to content moderation remains absolutely unchanged. In fact, we have actually seen hateful speech at times this week decline below our prior norms, contrary to what you may read in the press,” he posted.

“Twitter will not censor accurate information about anything,” said Musk.

On charging $8 for the Blue subscription service, he said: “Trash me all day, but it’ll cost $8.”

The company lost $270 million in the April-June period after revenue slipped 1 per cent to $1.18 billion, reflecting advertising industry headwinds.

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