The Centre has approved amendments to the FM Radio Phase-III Policy, which will help the private FM radio industry to fully leverage economies of scale and pave the way for further expansion of FM radio and entertainment to Tier-III cities in the country.
The government has approved the amendments of certain provisions contained in the Policy Guidelines on Expansion of FM Radio Broadcasting Services through Private Agencies (Phase-III) referred to as Private FM Phase-III Policy Guidelines. The decision was taken in the last Cabinet meeting chaired by Prime Minister Narendra Modi, said the Union Ministry of Information & Broadcasting.
The government has decided to remove the 3-year window period for restructuring of FM radio permissions within the same management group during the license period of 15 years. The government has also accepted the long pending demand of the radio industry to remove the 15 percent national cap on channel holding, said the Ministry.
Further with the simplification of financial eligibility norms in FM radio policy, an applicant company can now participate in bidding for ‘C’ and ‘D’ category cities with a net worth of just Rs 1 crore in place of Rs 1.5 crore earlier, said an official press communiqué.
The Ministry said, “These three amendments together will help the private FM radio industry to fully leverage the economies of scale and pave the way for further expansion of FM radio and entertainment to Tier-III cities in the country. This will not only create new employment opportunities but also ensure that music and entertainment over the FTA (Free to Air) radio media is available to the common man in the remotest corners of the country.”
To improve the Ease of Doing Business in the country, the emphasis of the government has been on simplification and rationalization of the existing rules to make governance more efficient and effective so that its benefits reach the common man, added the Ministry.