New Delhi, July 06, 2019: Nisha Narayanan, COO and Director, RED FM and Magic FM said, “Indian economy is all set to become a $3 trillion economy and the first Budget by the Modi government has introduced several benefits. Budget Proposes More Foreign Investment in Media, currently the FDI stands at 49% for the private FM radio industry which we now hope will be opened up to 100% like DTH and Entertainment. Liberalization of same will also majorly help in private FM station to reach the current media dark cities in India and adapt new era digital technologies and best practices being followed globally. The budget facilitates the transformation of the Indian economy into a digital economy with special focus on cash less transactions . We hope that in long run, we will be able to derive the benefits of the special initiatives and incentives announced by the Financial Minister for tax rebate on e-vehicles, push for affordable housing, increase in the turnover limit of 400 crore for companies to fall in the tax bracket of 25%. Additional deduction benefit on home loans, focus on empowering women and announcing infrastructure push for railways, highways and education will also be beneficial for the radio sector.”
Corporate Comm India (CCI Newswire)
