Minister for Information and Broadcasting Manish Tewari has said that the Phase III auctions for FM radio will roll out next month. Speaking at the Big Picture Summit 2013, organised by the Confederation of Indian Industry in New Delhi, Tewari said that the Government is putting in place processes to make the e-auction process as transparent as possible.
He mentioned, “We are trying to put in place certain process and make the whole process as transparent and hassle free as possible. By next month we would be in position to be able to roll out the entire Phase III auction process.”
The Minister added that the Government will provide all necessary help to the media and entertainment industry by providing infrastructure to reach the $100 billion landmark. “The Government believes in the potential of the industry and it has the capacity to unlock creative potential of the people,” he said.
Tewari further said that the Justice Mudgal Committee report on overhauling the present Cinematograph Act is expected to be out by mid-October this year after consultations with all stakeholders.
Commenting on the need for a stable regulatory system for the sector, Tewari said that the Government believes in persuasion rather than regulations while dealing with the media. Complimenting the robust double digit growth of the media and entertainment industry in the last few years, the Minister said that in the backdrop of the economic slowdown, it is a good achievement.
Touching upon the new media sector, he said that it has enormous power and is unregulated. He also urged the industry to explore the potential of social media.