Cabinet to auction 730 private FM radio stations across 234 cities
This story was originally published at 18:36 IST on 28 August 2024
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AHMEDABAD - The Union Cabinet today approved a proposal to e-auction 730 radio frequency modulation, or FM, channels in 234 new cities, Information and Broadcasting Minister Ashwani Vaishnav said. The e-auction of the channels would be carried out under Private FM Radio Phase III Policy and have an estimated reserve price of 7.85 bln rupees.
The Cabinet also approved a proposal to set the annual license fee for the FM channels at 4% of gross revenue, excluding Goods and Services Tax. This will be applicable to the 234 new cities and towns.
Rollout of the channels will fulfil the unmet demand for FM radio in these 234 new urban centres, the minister said.
When asked by reporters later, Vaishnav was noncommittal about the long-standing demand of several private FM radio operators to allow transmission of news on their channels. End
Reported by Sunil Raghu
Edited by Ashish Shirke
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