Delivering Justice Konda Madhva Reddy Memorial lecture, Jaitley also said India did not have the "intellectual honesty" to admit that the previous economic model was at least "partly fraud".
According to public enterprises survey of 2014-15, India has 77 loss-making central public sector enterprises (CPSEs), which include Air India, BSNL, MTNL and MRPL, Minister of State for Finance Arjun Ram Meghwal said in a written reply in Lok Sabha.
State-run BSNL will post over three-fold jump in its operating profit at Rs 2,000 crore for financial year 2015-16, Telecom Minister Ravi Shankar Prasad said on July 5
"BSNL will set up new 2000 towers in next two years in Chhattisgarh which will be a historical step to strengthen mobile connectivity in the state," Ravi Shankar Prasad said at a press conference here.
"Growth of BSNL in April 2016 is 1.32 per cent against the industry average 0.06 per cent. BSNL has given highest growth consistently in last months ie February, March and April," BSNL said in a statement.
State-run telecom firm MTNL will submit its revival plan to the Department of Telecommunications (DoT) by August this year which aims to bring the loss making public sector undertaking (PSU) out of the red.
Total telephone subscriber base in the country rose marginally in April to 105.92 crore on account of increase in the number of wireless users
Telecom Minister Ravishankar Prasad said state-run BSNL has earned an operating profit of Rs 672 crore for the first time in seven years and expressed confidence for better performance by the end of this fiscal
Roundup: State-run telecom firm BSNL on June 15 extended its free roaming service by one more year enabling its mobile customers to receive calls at no extra cost while roaming
State-owned BSNL plans to add 50 lakh connections, including 30 lakh in urban and 20 lakh in semi urban areas, under New Generation network by March 2017, a top official said.
"Some customers often miss to pay bill because of fix timing of BSNL counters. With these ATMs in place, customers will be able to pay their bill during any time of the day," BSNL CMD Anupam Shrivastava said while inaugurating the ATM facility in Pune.
This feature provides multiple call forwarding option that are -- always divert, call diversion when busy, call diversion in case the handset is turned off or has not coverage and call diversion for not responding.
"I would like MTNL's revenue to increase, not only in terms of improving connectivity and consumer base, but also in optimum utilisation of their resources and infrastructure," Ravi Shankar Prasad said.
"As far as (issue of) H-1B and L1 visa fee hike is concerned, we have taken it up with the highest level (the US government). Even Prime Minister (Narendra Modi) has spoken to US President, I have also taken it up and we will continue doing so," the Communications and IT Minister told reporters here.
Pitching for more competition, Finance Minister Arun Jaitley cautioned that pro-business environment without "pro-competition" policies can result in dangerous consequences, including crony capitalism
Now after one year and eight months of NDA rule, headed by Prime Minister Narendra Modi, BSNL for the first time had an operative profit of Rs 672 crore, he claimed.
State-run BSNL is planning to rope in technology partners for the rollout its 4G services on revenue sharing basis in 14 telecom circles of the country.
The state-run firm has deep presence in rural areas as other companies have invested very conservatively due to low return on investments.
Mobile operators' body Cellular Operators Association of India (COAI) has requested DoT to take proactive steps to stop calls through apps, like the one recently planned by state-owed BSNL, saying they are against rules.
State-run BSNL today said it has registered the highest growth rate in providing new wireless connections during February this year, beating all private operators.
The government today said there is no proposal currently to merge the state-owned BSNL and MTNL, but the operators are trying to generate maximum revenues for their revival.
Telecom Minister Ravi Shankar Prasad said in Lok Sabha that in 2004, BSNL was incurring profits of around Rs 10,000 crore and MTNL Rs 900 crore.
Under the Mana Navratana (non-manufacturing) category, ONGC bagged Maharatna of the year award, while Coal India got the for being the most efficient Maharatna of the year.
The facility is now available for customers using @bsnl.in' , '@sancharnet.in', '@dataone.in' and domains hosted with BSNL.
"Idea remains the biggest gainer with 17 million net port-ins until end-January 2016. Not surprisingly, RCOM, Aircel and TTSL are the biggest losers. BSNL's performance is surprisingly respectable," Kotak Institutional Equities said in a note.