Budget 2018: Radio foresees greater purchasing power
Radio industry players found the Union Budget 2018 to be balanced and foresaw a greater purchasing power and consumption rates, leading to better advertising sale
Radio industry players found the Union Budget 2018 to be balanced and foresaw a greater purchasing power and consumption rates, leading to better advertising sale.
Nisha Narayan, CEO, RedFM found the budget to be balanced and very cautiously drafted keeping the fiscal deficit targets in mind. "Giving boost to infra in railways, roads and highways, smaller city connectivity, agriculture sector by increasing MSP, launch of National Healthcare Cover, etc. will help investments and new job opportunities. With imported items being made costlier, government has given signs to domestic manufacturers to get an edge. We feel that all of the above should give businesses a reason to spend more on advertising and marketing spends and overall increase consumer spending. Government has announced measures for small & medium industry sector. As FM radio readies itself to get into medium and smaller cities we hope that budget provisions will give boost to market expansion potential by increasing rural spending," she said.
She added that in due course, when GST gets settled, they are hopeful that monies will start flowing to some of these areas. "Key infra sector spending will lead to improvement in consumer spending. Some action on reducing excise duty on fuels would have helped consumer sentiments apart from expected change in IT slabs. Overall, we find the budget a balanced aimed at growth and not getting just into populist measures, which is good for long term economic health," she said.
Abraham Thomas, CEO, Radio City, said, "The reduction in corporate tax rate to 25 per cent for the MSME sector, the favourable measures towards the agricultural segment will drive increasing purchasing power and drive advertising spends from the FMCG industry. Bigger budget allocation towards the Digital India initiative will witness significant growth and radio is a seamless fit with the digital play."
Tarun Katial, CEO, BIG FM , however, was excited about the wifi -hotspots reaching rural markets. "With healthcare being one of the focal points of the just concluded Union Budget 2018, the entertainment and broadcast industry did not see any major announcements. However, the proposal to reduce corporate tax will encourage more investments by producers to create more compelling content for the entertainment industry. Also, the announcement of setting up 5 lakh Wi-Fi hotspots in rural areas will ensure wider reach, boosting overall digital content consumption in the country to a great extent," said
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