Scrap the USO fund

Other than finance minister P Chidambaram who finds the interest earnings on it a useful cushion, it’s not clear who else finds the Universal Service Obligation (USO) fund of any use. All telcos today contribute 5% of their annual revenues towards this fund, which is meant to provide rural telephony—since such telephony is not remunerative, the logic goes, the USO fund would subsidise it.

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