Thursday, January 29, 2009

Print media hopes govt will revise ad rates, remove duties

India’s print media industry has joined the growing list of businesses seeking a bailout from the government to combat a sudden downturn in the economy after three years of rapid growth.

With advertising—their main source of revenue—slowing, publishers have asked the government, the single largest advertiser in newspapers, to revise its advertising rates, abolish custom duty on newsprint and withdraw fringe benefit tax levied on the non-core salary components of their employees.

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