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Needs Stimulus for Print Media, INS Tells Government | India News


NEW DELHI: The Newspaper Society of India (INS) on Friday urged the Center to announce a stimulus package for the newspaper industry to outperform the crisis In the wake of the pandemic, a request that the INS, the representative body for newspapers in India, has made several times in recent months.
The INS reiterated its demand for the elimination of the residual 5% customs duty on newsprint, a 2-year tax holiday, a 50% increase in government advertising fees, a 200% increase in government spending. in print media and immediate settlement of pending ad invoices, owed. by the central and state governments. Emphasizing the problems faced by print media, INS President L Adimoolam said revenue streams are facing an “unprecedented crisis,” especially as advertising and circulation have been severely affected by the pandemic.
“As a result, many of the publications have closed or suspended some of their editions indefinitely. If this situation prevails, many more will be forced to go out of business in the near future. In the past 8 months, the industry has already lost around Rs 12,500 crore and the annual loss is likely to be around Rs 16,000 crore, ”an INS statement said.
He also said that the government’s failure to step forward for the newspaper industry would result in the fall of the fourth pillar in India and will have “serious socio-political repercussions” as it would affect 30 lakh of workers and staff, directly and indirectly involved in the newspaper industry as journalists, printers and delivery providers, among others. “The devastating ripple effect of the collapse of the newspaper industry will affect thousands of Indians, including employees and their families, as well as the broader ecosystem of allied industries, print shops, distribution supply chain, including newspaper vendors and delivery men, etc., who for decades have been making a living from these operations, ”the statement said.
The INS said that the Indian newspaper industry has played a vital role in disseminating verified and factual news, a service that has been duly recognized by the Supreme Court, adding that the entire industry is doing its best. efforts to recover and is seeking the government to provide much-needed stimulus.

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