37 FDI proposals in broadcasting sector cleared

By SiliconIndia   |   Thursday, 28 February 2008, 13:41 Hrs
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New Delhi: Foreign Investment Promotion Board approved 37 FDI proposals pertaining to the information and broadcasting sector during 2007, said P.R. Dasmunsi, Minister of Information and Broadcasting. He was addressing Lok Sabha on Tuesday.

"The tax review proposals received by the Ministry included the Multiplex Association of India's demand to bring down customs duty on imported equipment such as xenon bulbs, cinema digital and analogue sound processors," Dasmunsi said.

The Government has been asked to bring the rate of depreciation -currently at 15 percent for plant machinery and furniture and 10 percent for building- at par with the 40 percent applicable to public transport and tourist taxis.

The Government also plans to set up 93 All India Radio transmitters and 41 Doordarshan transmitters during 2007 to 2009. The Minister said the government has also planned to set up 100 low power transmitters in the North-Eastern States. The estimated cost for the AIR is Rs 182 crore and for Doordarshan is Rs 198.37 crore.

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