INS seeks govt assistance to save ailing newspaper industry
Among its demands are a two-year tax holiday, removal of 5% customs duty on newsprint, a 50% increase in DAVP ad rates and a 100% increase in budget spends
The Indian Newspaper Society (INS) has reportedly written to the government, seeking assistance during the economic crisis. Media reports say that INS has asked for urgent interventions to help the newspaper industry as it grapples with dwindling ad revenues.
In its demands, it has asked for a two-year tax holiday, removal of 5% customs duty on newsprint, 50% increase in DAVP ad rates and 100% increase in budget spends. INS has urged the government to help the industry tide over the crisis brought on by the “triple whammy” of coronavirus, reduced ad revenue and customs duty on newsprint.
Without assistance, the INS writes that the newspaper industry could collapse within a short time.
The letter mentions that despite taking measures like cutting down pages and merging weekend supplements, newspapers have not been able to stay afloat. The collapse of the newspaper industry would also lead to a “ripple effect,” mentions the letter, which can affect the entire ecosystem of employees, vendors, distributors, etc.
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