Specials

Budget 2017: After DeMo, govt. announces sops for digital infra & economy

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2017/02/01/arun%20%281%29_0.jpg?itok=EzHM2Abn

NEW DELHI: Stating that the budget for 2017-18 was on the agenda to “Transform, Energise and Clean India” in a RAPID (Revenue, Accountability, Probity, Information and Digitisation) way, Finance Minister Arun Jaitley announced various concessions for pushing ahead digital economy, which indirectly may benefit some segments of the media and entertainment sector.

Under the BharatNet Project, 1, 55,000 km optic fibre cable had been laid in the country. The allocation for BharatNet Project had been increased to Rs 10,000 crore in 2017-18. By the end of 2017-18, high speed broadband connectivity on optical fibre will be available in more than 1, 50,000 gram panchayats (village administrative offices), with wi-fi hot spots and access to digital services at low tariffs. A DigiGaon or digital village initiative will be launched to provide tele-medicine, education and skills through digital technology, Finance Minister Arun Jaitley said.

The allocation for OFC-based network for defence services had also been increased from Rs 2710 crore in the last budget to Rs 3000 crore in 2017-18.

Coupled with push towards digital payments for services, including in the broadcast and cable segments, investments in the internet infrastructure and telecom equipments will likely have cascading benefits for the media sector too, especially those offering video streaming services on phones and other hand-held devises.

The finance minister said a shift to digital payments has huge benefits for the common man. The earlier initiative to promote financial inclusion and the JAM trinity were important precursors to government’s current push for digital transactions.

In a budget, which for the first time since independence was presented on 1 February instead of the last day of the month, Jaitley said an eco-system was being created to make India a global hub for electronics manufacturing. Over 250 investment proposals for electronics manufacturing had been received in the last two years, totalling an investment of Rs 1.26 lakh crore. A number of global leaders and mobile manufacturers have set up production facilities in India. “I have therefore exponentially increased the allocation for incentive schemes like M-SIPS and EDF to Rs 745 crore in 2017-18. This is an all-time high,” he added.

A major announcement by Jaitley was the abolition of the Foreign Investments Promotion Board (FIPB) and further liberalisation of FDI policy for which necessary announcements will be made in due course.

Jaitley said: “Our government has already undertaken substantive reforms in FDI policy in the last two years. More than 90 per cent of the total FDI inflows are now through the automatic route. The FIPB has successfully implemented e-filing and online processing of FDI applications. We have now reached a stage where FIPB can be phased out”.

He said the telecom sector was an important component of Indian infrastructure eco-system. He claimed the recent spectrum auctions have removed spectrum scarcity in the country and this will give a major fillip to mobile broadband and Digital India for the benefit of people living in rural and remote areas.

In a boost to domestic industry, a special additional customs duty of 2 per cent is being levied on Populated Printed Circuit Boards (PCBs) for use in the manufacture of mobile phones, subject to actual user condition.

Noting that India is on the cusp of a massive digital revolution, Jaitley said there was evidence of increased digital transactions. The BHIM (Bharat Interface for Money) app would unleash the power of mobile phones for digital payments and financial inclusion. A total 12.5 million people had adopted the BHIM app so far, Jaitley said, adding that the government will launch two new schemes to promote the usage of BHIM: referral bonus scheme for individuals and a cash back scheme for merchants.

Aadhar Pay, a merchant version of Aadhar Enabled Payment System, was being launched shortly. This will be specifically beneficial for those who do not have debit cards, mobile wallets and mobile phones. A Mission will be set up with a target of 25,000 million crore digital transactions for 2017-18 through UPI, USSD, Aadhar Pay, IMPS and debit cards. Banks have targeted to introduce additional one million new PoS (point of sales) terminals by March 2017 and they will be encouraged to introduce two million Aadhar-based PoS by September 2017, the finance minister said.

Jaitley said the Government will consider and work with various stakeholders for early implementation of the interim recommendations of the Committee of Chief Ministers on digital transactions. The Committee on Digital Payments, constituted by Department of Economic Affairs, had recommended structural reforms in the payment eco system, including amendments to the Payment and Settlement Systems Act 2007.

In a boost for digitisation, the government has removed service tax on e-tickets booked through IRCTC (Indian Railways’ website).

According to a PTI report, after a flat day time trading Sensex zoomed 485.68 pts to close at 28,141.64.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/25/stream.jpg?itok=0NHtrR1u
Vidnet 2021: On innovation & creating disruptive content on OTTs

The rise of streaming platforms like Netflix, Disney+ Hotstar, Amazon Prime Video, Voot, Zee5, MXPlayer and ALT Balaji has allowed Indians to watch diverse content from around the globe along with experiencing new genres.

Specials Event Coverage VidNet
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/19/pg.jpg?itok=aMyd8rFz
#Forecast2021: Rural consumption to rule the roost, says Parle’s Krishnarao Buddha

In 2020, marketers learnt to grapple with unforeseen challenges elicited by the lockdown, and they are prepared to handle such circumstances, incase of another such instance in the future (hopefully not).

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/19/dth.jpg?itok=2ugzTNO1
#Forecast2021: Positivity returns slowly for cable, DTH operators

Waking up to a new pricing regime, followed by an unprecedented pandemic, natural disasters, and tensions with China, 2020 turned out to be a gloomy year for the cable TV distribution industry.

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/18/tv.jpg?itok=a8_bbj0B
#Forecast2021: TV advertising may see biggest growth in five years

Indian television made a round trip to hell over the course of 2020, but the new year seems like the beginning of a positive era for the industry, as far as its stature as the primary advertising medium is concerned.

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/16/production.jpg?itok=H82e5yTn
#Throwback2020: The year of reinvention in production

MUMBAI: The Covid2019 crisis has engendered a paradigm shift across all walks of life and it is believed that there’s no going back to “normalcy” even after the deadly virus is dealt with. This also holds true for the media and entertainment industry.

Specials Year Enders
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/15/tvv.jpg?itok=692JqTyS
India Khush Hua: Top 5 trends that will define M&E industry in 2021

2020 was when peoples’ worst fears came true. But 2021 is a brand new year full of promise of good things to come, where the media and entertainment industry can reboot, recalibrate and recoup what it lost, voiced the panel comprising leading names from the brand and agency world at...

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/15/lap.jpg?itok=XUv9qKww
Forecast 2021: Digital to lead marketing industry’s growth story

2020 started off with industry hopes pinned on a robust double-digit growth. Instead, it left the Indian marketing and advertising industry in shambles. Educated estimates peg the sector to have clocked only a one-two per cent growth over 2019 numbers, with traditional advertising taking the...

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/15/tv.jpg?itok=QLpKn9LZ
#Forecast2021: How technology, infrastructure upgrade will shape OTT ecosystem

The over-the-top (OTT) platforms have seen accelerated customer acquisition, especially post-Covid2019. To increase the stickiness of fleeting users, the platforms are adding more and more content to their libraries.

Specials Forecast
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/14/sony.jpg?itok=tW3nGrHc
#Forecast2021: OTT magic will continue to hold sway

Most industries had little cause for cheer last year, but the OTT business wasn’t one of them. Engulfed by an outpouring of love and support, OTTs truly came into their own in 2020. These streaming platforms not only gained paid subscribers in big numbers, but became a staple of the Indian culture...

Specials Forecast

Sign up for our Newsletter

subscribe for latest stories

* indicates required