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Business & Economy
Broadcast regulation to generate Rs 4,000
cr
What is India News Service,
Friday, 18 February 2005, 1330 hrs IST
The Centre\92s decision to set up an autonomous regulator for the broadcasting sector through a comprehensive legislation is
likely to generate revenue worth Rs 4,000 to 5,000 crore
from corporate taxes levied on advertisements and other profits generated by broadcasters operating from outside India.
At present, close to 100 channels are being beamed in the country, mostly by foreign broadcasters, who are operating without any universal service obligation (USO) being imposed on their services.
Like in the telecom services, where a licence operator pays 5 per cent of revenue, which is used for conducive development works, revenue generated through the USO would contribute an additional Rs 1,000 to Rs 1,500 crore through proposed broadcasting regulator.
The content being transmitted through satellite transmission can either be controlled at the point of up-linking or after down-linking. At present, signals are being down-linked without any restriction, provided they conform to programme and advertising codes which is only applicable on cable network services under the Cable Act, with absolutely no attention on programme providers.
New SEBI Chairman:
The Chairman and Managing Director of the Industrial Development Bank of India, M. Damodaran, was today appointed Chairman of the Securities and Exchange Board of India. He succeeds G. N.
Bajpai.
Tata Steel looks at overseas listing:
It could be either NYSE or LSE, its managing director has said.
Raymond to set up JV with Italian firm, invest Rs 280-cr:
Domestic suit and apparel maker Raymond Ltd on Thursday said it would set up a joint venture with Italian shirtmaker Cotonificio Honegger SPA and pump in Rs 280 crore for fresh and additional textile capacities.
MNCs pad up to cut jobs in India:
The big layoff plans announced by firms like P&G, SBC & Oracle could spell disaster for their Indian arms.
Shaw Wallace sales rise 16%:
Sales of liquor major Shaw Wallace rose 16 per cent with 12.08 million cases during the first nine months of the current financial year as against 10.4 million cases in the same period last year.
President shows the way for craftsmen, weavers:
President Kalam said we should generate a new class of entrepreneurs, for whom \91manufacturing locally andmarketing globally\92 must be the motto.
Dutch hydel firm interested in
Himachal: Barkel Corporation, a private company of Netherlands, has shown interest in taking up hydroelectric ventures in the hill state.
Jet to pay $7.5 mn for trademark:
A day before the opening of its IPO, Jet Airways (India) Ltd on Thursday said it will pay up to $7.5 million to acquire trademark and intellectual property rights from Naresh
Goyal-promoted Jet Enterprises Private Ltd.
Retained profits main source of India Inc funds:
India Inc. generated 90% of its funds from profits in 2003-04.
HCL acquires whole of Aquila:
Leading IT services company HCL Technologies announced that it has acquired the balance 43 per cent in Aquila Technologies Ltd, thus making it a 100 per cent subsidiary of the company.
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