BUDGET EXPECTATIONS: RADIO SECTOR

12 Jan 2023 , 05:13 AM

“The radio sector has been experiencing a steady economic recovery post-COVID. With the budget for 2023 to be announced soon and the Finance Minister laying the foundation of India’s economic growth avenue, the radio sector has certain expectations for the same. One of the most important expectations for the Union Budget 2023 is to re-examine and rationalize GST for the radio sector. This rationalization can aid the radio industry to build higher revenue and focus on a stronger growth trajectory. Additionally, we hope that the Government draws attention to the integration of technology and digitization across hinterlands as it will help strengthen the radio & media industry in bolstering the audience base. Leveraging this reach, the radio industry can continue to be one of the most preferred media of communication and offer relevant information across the length and breadth of the nation. While the recently announced new radio phase III guidelines will boost the radio industry, we believe that the government should also provide an extension on the license period and streamline the annual license fees.”