Phase III of Auction for FM Radios by Next Month, Says I&B Minister

The I&B Minister Shri Manish Tewari has said that the phase 3 auction for FM Radios will roll out next month. Speaking at the Confederation of Indian Industry, Big Picture Summit 2013 in New Delhi today, he said that the Government is putting in place processes to make the e-auction as transparent as possible. 

The Minister said the Government will provide all necessary help to media and entertainment industry by providing infrastructure to reach 100 billion dollar landmark. He said the Government believes in the potential of the industry and it has the capacity to unlock creative potential of the people. He also said that the Justice Mudgal Committee report to overhaul the present Cinematograph Act is expected to come by mid October this year after consultations with all the stakeholders. 

Commenting on the need of a stable regulatory system for the sector, Mr. Tewari said that the Government believes in persuasion rather than regulations while dealing with media. Complementing the robust double digit growth of media and entertainment industry in the last few years, the Minister said that in the backdrop of the economic slow down, it is a good achievement. 

Touching upon the New Media sector he said it has enormous power and is unregulated. He also urged the industry to explore the potential of Social Media. 


Courtesy: (pib.nic.in) Press Information Bureau