Budget 2014: Service tax extended to sale of ad space on online & mobile
• Sale of ad space in print media exempted from service tax • Rs 100 cr allocated for community radio • New 24x7 TV channel for North East • Kisan Television to be launched for farmers
Finance Minister Arun Jaitley has just finished presenting his maiden Budget speech and there have been some important announcements for the media & entertainment, advertising as well as the digital sector.
· Service tax has been extended to selling of space or time slots for advertisements on online and mobile platforms
· Sale of advertisement space in print media is excluded from service tax
· New 24x7 television channel, Arun Prabha, for the North East to be launched
· A Rs 10,000-crore start-up fund to be set up for new businesses
· Kisan Television to be set up for the benefit of farmers, which will give real time information on advanced agriculture system
· Rs 100 crore has been allocated to spur growth of community radio. 600 new community radio stations slated to be set up across the country
· Manufacturing units will be allowed to sell their products through retail and e-commerce. The move will give a boost to e-commerce in India
· Rs 500 crore proposed for digital India programme for broadband connectivity at village level and transparent governance
· National Rural Internet and Technology Mission proposed; Rs 500 crore set aside
· Film and Television Institute of India, Pune and Satyajit Ray Institute, Kolkata to be accorded status of institutes of national importance
