By IANS,
New Delhi : The government Friday came to the rescue of the media industry reeling under the impact of economic recession by announcing a 10 percent hike in the advertisement rates issued by the directorate of audio visual publicity (DAVP).
“The downturn has impacted the Indian media industry also. We are sensitive to their concerns,” Minister of State for Information and Broadcasting Anil Sharma told reporters here.
“We have decided to hike the DAVP rates by 10 percent as a special relief to the media industry. The relief is subjected to documentary proof of loss of revenue in non-governmental advertisements as compared to the same period last year,” Sharma said.
The minister also announced a waiver of 15 percent agency commission on DAVP advertisements till June 30, 2009.
The decision came after leading figures of the Indian media industry met Sharma early this month and sought government’s help to fight recession.