On Tuesday, sent an SOS to fend off the plight gazing at the industry was sent by the private FM industry to Union information and broadcasting minister Prakash Javadekar seeking an immediate relief package of Rs 300 crore.
Anuradha Prasad, president of the Association of Radio Industries of India (AROI) in her letter requested the government to consider an economic survival package for FM radio industry, to keep the industry persist.
“We have watched closely with hope the economic packages announced by the finance minister over the past week. However, we are deeply pained to notice that none of those measures has any effect, whatsoever, on the private FM radio sector,” Prasad wrote.
“The only measure that would have some effect on smaller groups operating FM radio would are extra credit facility for MSMEs.”
Accentuating the plight staring at the industry, she said, “Only 31 out of 371 stations are micro, small & medium enterprises (MSME), while 340 do not fall into MSME segment. However, even the 31 out of 371 stations that fall in MSME, cannot avail the benefit, as being heavily hooked into Government Advertising which has dried up over last one year, they’re going to haven’t any revenue forecasts for repayment to avail the power .”
AROI president also mentioned that the over the next 12 years FM industry is expected to pay around ₹15,000 crores to the government in the form of entry fee, licence fee, migration fee and GST.