Saturday, February 7, 2009

Indian govt to come out with stimulus package for media

Taking note of the difficulties faced by the media industry due to the financial crisis, the government on Saturday said it will shortly announce a stimulus package for the sector.

"Representatives of the media industry had written to the government and met with me on Saturday about the adverse impact of the financial crisis on the media industry. We are going to give some stimulus package to the media industry and we do hope to mitigate the situation," Minister of State for Information and Broadcasting Anand Sharma told reporters here.

He was speaking after meeting with captains of the media industry including Chairperson and Editorial Director of Hindustan Times group Shobhna Bhartia, Indian Express Editor-in-Chief Shekhar Gupta and Publisher and Editor of Business Standard T N Ninan.

Noting that the government is sensitive about the impact of the financial crisis on the media industry, Sharma said," The I&B ministry has already sent certain recommendations about the package to the Finance ministry and the government will announce it soon."

Asked if the package would also cover the electronic media, Sharma said that though it is mostly concerning the print media, "some aspects" of it would also apply to the electronic media too.

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