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The government Monday came to the rescue of a recession-hit media by extending the hike in government advertisement rates for print media by another six months.
Since the print media is still reeling under recession, the government has decided to extend the hike in advertisement rates by another six months, Finance Minister Pranab Mukherjee said Monday while presenting the budget for fiscal 2009-10.
In February, the government had hiked the Directorate of Advertising and Visual Publicity (DAVP) advertisement rates by 10 percent and waived off the 15 percent agency commission till June 30.
The relief is subject to documentary proof of loss of revenue in non-governmental advertisements as compared to the same period last year.
The hikes were announced after some media barons and leaders met then minister of state for information and broadcasting Anand Sharma and sought the government's help to bail them out of the financial crunch due to recession.
Since the new government took charge, top industry representatives met the new information and broadcasting minister, Ambika Soni, and sought a further hike in advertisement rates. The DAVP rate structuring committee finally decided to extend the current special relief package, sources said.
Last updated on Jul 6th, 2009 at 14:09 pm IST--IANS
A man suffered serious injuries after being set on fire while asleep here early Sunday, apparently over a property row, police said. Two of his cousins have been detained as suspects.
Global investor Purnendu Chatterjee has identified life science as an area where he foresees great potential for investment in India, but with a totally different model on new drug discovery from what has been adopted by the developed world.
The Delhi consumer commission has asked the State Bank of India (SBI) to pay Rs.11 lakh for ignoring a request from an Italian company not to honour cheques from a lost cheque book.
External Affairs Minister S.M. Krishna says that Indian aid workers in Kabul have become “soft targets” for terrorists who want to derail India-Afghan relations.
Flowers, fruits and incense sticks are not quite what devotees bring to a temple in Kanpur. To appease the deity, they make an offering of locks made of gold, silver and other precious metals.
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