IBF urges Centre to formulate stimulus package for broadcast sector

The IBF statement said the broadcasting business had been hit, both on the demand and supply side, which had not only led to cash flow problems but also resulted in existential crisis for many of its members.

The Indian Broadcasting Foundation (IBF) has sought the government’s support to deal with the economic crisis in the television broadcast sector as a fallout of the Covid-19 outbreak in the country, according to a statement issued by the foundation on Monday.

People watch Prime Minister Narendra Modi addressing the nation amid concerns about the spread of coronavirus disease (COVID-19), on TV screens inside a showroom in Ahmedabad. (Photo: Reuters)

In its letter to Information and Broadcasting minister Prakash Javadekar, the IBF appealed to the government to take steps to help the sector. It listed 18 points including an 18-month regulatory moratorium for the sector, extension of moratorium period for GST payment, phased resumption of production activities,

The IBF statement said the broadcasting business had been hit, both on the demand and supply side, which had not only led to cash flow problems but also resulted in existential crisis for many of its members. The cash flow difficulties of the members were further compounded, it said, because payments from Bureau of Outreach & Communication (BOC) and other state government advertising agencies running in several hundreds of crores had not been made.

Singh said while the not-for-profit industry body welcomed the compliance and statutory relaxations granted by the government on 15 April, “the broadcast sector is seeking a stimulus package from the Government in the form of economic relief and regulatory flexibility so that all Broadcasters especially the smaller businesses can be helped to get back on track”.

The industry body also asked the government to reduce GST rate on Digital services (B2C), automatic refund of input credit and immediate processing and issuance of Lower withholding order (LTDS)”.