The sentiments of the media and entertainment sector have gone up after the Union Budget 2020 put more money in the consumers’ pocket, which in turn is expected to increase consumption. The budget also gives direct cash benefit to the newspapers by reducing customs duty on the import of newsprint from the existing 10% to 5%.
With digital driving the growth of the media and entertainment industry, the government’s Rs 6,000-crore push to BharatNet programme in 2020-21 to further enhance broadband connectivity in rural areas is seen as a big boost to the entire sector.
Bharat Khatri, Country Lead, Xaxis India, GroupM’s programmatic arm, found the digital push by the government as a great move.
He said, “The first budget of this new brave decade continues to focus on digital infrastructure. BharatNet project getting additional Rs 6,000-crore funds to boost digital connectivity and allowing private sector to build data centres in India is a great move, which reflects the government’s clear vision to transform India into digitally empowered society. And as Sitharaman clearly pointed out that India has already started seeing innovations in the space of IOT, AI, data cloud, quantum computing etc.
All are rewriting the world economic orders and will also disrupt the established conventional business models in India. To support these innovation and disruptions, the budget also lays down a visionary roadmap on skill and education development by providing Rs 99,300 crore to boost quality of education and proposed to start degree-level full-fledged online education programmes.”
With digital driving the growth of the media and entertainment industry, the government’s Rs 6,000-crore push to BharatNet programme in 2020-21 to further enhance broadband connectivity in rural areas is seen as a big boost to the entire sector.
Bharat Khatri, Country Lead, Xaxis India, GroupM’s programmatic arm, found the digital push by the government as a great move.
He said, “The first budget of this new brave decade continues to focus on digital infrastructure. BharatNet project getting additional Rs 6,000-crore funds to boost digital connectivity and allowing private sector to build data centres in India is a great move, which reflects the government’s clear vision to transform India into digitally empowered society. And as Sitharaman clearly pointed out that India has already started seeing innovations in the space of IOT, AI, data cloud, quantum computing etc.
All are rewriting the world economic orders and will also disrupt the established conventional business models in India. To support these innovation and disruptions, the budget also lays down a visionary roadmap on skill and education development by providing Rs 99,300 crore to boost quality of education and proposed to start degree-level full-fledged online education programmes.”
