The government on Thursday cleared guidelines of the much-delayed FM Radio Phase III expansion that will allow private radio channels to broadcast news of All India Radio and enable revenue generation of Rs 1,733 crore (Rs 17.33 billion) from the auction of license for services in 227 cities.
At present private radio stations are not allowed to broadcast news. The government's new move comes at a time when it is in the process of finalising the process for the third phase of FM radio expansion in India.
It will be the second FM radio operator to have listed on the BSE, after Entertainment Networks India Ltd that operates its radio business under the Radio Mirchi brand.
Radio Mid-Day West India Pvt Ltd, a subsidiary of Mid-Day Multimedia Ltd, has sent a conditional notice to Information and Broadcasting Ministry to surrender its FM license in Mumbai, effective Sunday.
Radio City 91 FM, an FM radio station jointly promoted by Music Broadcast Private Ltd and STAR TV, hopes to break even in next two years time, provided there is a slash in the FM radio broadcaster licensing fee.
The government is planning to set up a facility that will monitor the programme content that is broadcast on FM Radio stations during the 12th five year plan.
She said Prime Minister Narendra Modi has received the highest civilian awards from 13 countries, including six with predominantly Muslim population.
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister's comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
Later, Sitharaman's office clarified that the FM had already met the industrialists, experts, and economists during the pre-budget consultations.
The I&B ministry has intimated January 14 and 24 as the new dates for the auction instead of December 29 and January 10.
Addressing the inaugural session of the joint conference of chief ministers and chief justices of high courts in Delhi last year, Prime Minister Narendra Modi had appealed to them to give priority to cases related to undertrial prisoners languishing in jails and release them, as per law, based on human sensitivities.
Finance Minister Nirmala Sitharaman on Wednesday said the National Rural Livelihood Mission has achieved remarkable success by mobilising rural women into 1 lakh SHGs (self help groups).
This is the first Budget in Amrit Kaal, she said.
His trip to Moscow comes days after Defence Minister Rajnath Singh visited the Russian capital to attend a meeting of the defence ministers of the eight-nation SCO of which both India and China are members.
Taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for, the FM said.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
I&B ministry to lease out AIR towers to private FM operators in the sensitive north-east region.
Anil Ambani-controlled Adlabs and Hindustan Times' HT Music & Entertainment have bagged licences in the second phase of FM radio expansion, including Delhi and Mumbai.
Slamming the Budget, senior Congress leader P Chidambaram on Saturday said the Modi government was in complete denial that the economy faces a "grave macro economic challenge" and it has given up on reviving the economy, accelerating growth or creating jobs. There is nothing in the Budget that leads one to believe that growth will revive in 2020-21 and the claim of 6 to 6.5 per cent growth next year is "astonishing and even irresponsible", the former finance minister said at a press conference.
The government on Thrusday allowed 20 per cent foreign direct investment in FM radio and recommended shifting to revenue sharing regime from the current licence fee structure.
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
An indication in this regard was given by Minister of Information and Broadcasting P R Dasmunsi, who acknowledged that there has been pressing demand from the radio broadcasters to let them air news along with entertainment and gossip.
Lifting restrictions on airing news and current affairs and permitting licensees to own multiple licences are among a host of issues Trai has put up in its first consultation paper on FM radio privatisation on Wednesday.
"But the BJP wants it to be done after Lok Sabha elections. The tenure of this Lok Sabha will end on 16th June and SBI wants to share the data by 30th June," Kharge said.
He alleged that India "lost access to 26 out of 65 Patrolling Points" which was not the case before May 2020, and questioned the Modi government's "silence" on the issue.
The G20 foreign ministers' meeting on Thursday was unable to come out with a joint communique due to sharp differences over the Ukraine conflict despite persistent efforts by host India to build consensus.
The Indian High Commissioner to the United Kingdom, Vikram Doraiswami, who was touring Scotland this week was blocked from entering a gurdwara in the capital Glasgow by pro-Khalistan extremists.
As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, travel agents' body TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the TCS on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent. This will be applicable to international travel, sending money abroad and other remittances.
Mallya, who is wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crore, also said all his companies have effectively ceased operations and manufacturing following the lockdown in India.
The finance minister (FM) in his speech confirmed growth forecasts in the Economic Survey that the economy is likely to grow at 8.6 per cent during the current fiscal.
Telecom service provider Reliance Communications on Monday introduced two new Classic colour phones with FM radio, aiming to tap a higher market share in this segment.
This is significant because the ministry of information and broadcasting is actively looking at making a policy announcement for the third-phase roll out of FM radio as part of its action plan for the first 100-days of the United Progressive Alliance government. A final recommendation to this effect has already been made by the sector regulator Telecom Regulatory Authority of India.
It is likely to generate advertising revenue of Rs 55 crore.
