New Delhi: The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the proposal for the conduct of the third batch of ascending e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore under the Private FM Radio Phase Ill Policy.
The Cabinet also approved the proposal to charge an Annual License Fee (ALF) of FM channels as 4 per cent of Gross Revenue excluding Goods and Services Tax (GST). This will be applicable for 234 new cities and towns, Union Information and Broadcasting Minister Ashwini Vaishnaw told reporters here.
The Private FM Radio rollout in 234 new cities and towns will fulfil the unmet demand for FM radio in these cities/towns, which still remains uncovered by Private FM radio broadcasting and bring new/local content in the mother tongue, the Union Minister stated.
It will lead to creation of new employment opportunities, boost to local dialect and culture and 'vocal for local' initiatives, he said.
Many of the approved cities/towns are in aspirational districts and LWE-affected areas. Setting up of Private FM Radio in these areas will further strengthen government outreach in these areas, the Union Minister added.
Besides this, multiple projects including 12 new project proposals under the National Industrial Corridor Development Programme (NICDP), three projects of the Ministry of Railways, the progressive expansion in the Central Sector Scheme of financing facility under 'Agriculture Infrastructure Fund’, and Central Financial Assistance (CFA) to the state governments of North Eastern Region (NER) towards their equity participation for development of Hydro Electric Projects in the NER have been approved by the Union Cabinet.
