Print media has suffered nearly Rs 4,500 crore loss in March & April: INS
The Indian Newspaper Society has sought a strong stimulus package for the industry from the government
The Indian Newspaper Society (INS) has come up with an estimate that the print media industry has suffered nearly Rs 4,500 crore loss in March and April on account of the lack of advertisements, media networks have reported.
According to INS, the industry is likely to suffer the losses for the next seven months, thus leading to an additional loss of up to Rs 15,000 crore. This, INS said, could be tackled if a strong stimulus package is provided by the government.
Shailesh Gupta, President of INS, has said that due to the losses newspaper companies are unable to pay salaries to their employees and vendors.
INS has reiterated their plea for removal of import duty on newsprint and a tax holiday for two years. The newspaper body has also asked the government to increase advertisement rates of Bureau of Outreach and Communication by 50 per cent and a 200 per cent jump in the budget spend as far as print media is concerned.
INS has told the government that the crisis will also be hitting the people and mechanisms associated with the medium.
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