Wish-list for Budget 2014...

As the new government announced its first railway budget on 8th July 2014, expectations are escalating with the Union Budget to be announced tomorrow. As mixed emotions and reactions were expected, similar sentiments flow in the expectations as far the Union Budget is concerned. As the M&E industry eagerly awaits the announcements to roll-out, sections of media have penned down what they would widh from the new government’s budget announcement.

While FDI in news media has been an issue of concern for all parties involved in the business, many broadcasters wish to see hike FDI in new media. However, Punit Goenka, MD and CEO opines that majority stake of news firms should remain with Indian companies. “From a macro perspective, #Budget2014 should give a boost to overall M&E ecosystem. I’m extremely confident that it'll be growth oriented one!..though from an Industry standpoint, aspects like enhanced FDIs and Tax relief are some of the key expectations! Subsidies on STBs & relief on Taxes should help. I'm more concerned about the smooth implementation of DAS phase III & IV !! A green signal for news broadcasting in FM radio will also be one of the positive steps for the M&E Industry”, he said.

Achal Bakeri, Chairman and Managing Director, Symphony Ltd said, “Government has an opportunity to give a strong statement of stable economy, investment friendly policies and tax reforms in the first budget to let the world know that India is now back in business. We expect new government to take steps in the budget that will pave the way for lowering inflation, increase investment, revival of investment cycle, stabilising rupee, advance technology and innovation. R&D also needs a boost to encourage more patents and products made in India. We expect transparent tax policy, introduction of GST and rationalisation of interest rates for growth of overall economy. In the interim budget, excise duty on sectors such as automobiles, capital goods and consumer electronics was reduced from 12% to 10% which is a welcome step.”