In the last three quarters, the revenues of India's largest telco have been seeing a steady slowdown.

A Rajasthan government's free-smartphones-for-women project came along just in time and won Reliance Jio managed to bag 60% of the contract value.

But now Jio is waiting, fingers crossed, for the new budget with reports of the government shelving the project.

If the project does come through, what would it mean for Reliance Jio?

Tune in to find out.