Indian Newspaper Society seeks relief from Finance Minister

Indian Newspaper Society President L. Adimoolam met Union Finance Minister Nirmala Sitharaman on Friday and sought relief from the Government of India on a number of points confronted by the print media trade within the upcoming Budget.

During the assembly, Mr. Adimoolam identified that the majority newspapers, regardless of making certain that important data reached hundreds of thousands of households every single day throughout the COVID-19 pandemic and the lockdown, have stopped sending newspapers to rural areas to chop down on distribution prices, ensuing within the rural inhabitants being left to depend upon pretend information on social media.

Stating that it might take two or three years for the trade to get well, Mr. Adimoolam requested the Union Finance Minister to supply relief for the print media within the upcoming Budget and introduced 5 calls for.

Mr. Adimoolam harassed on the necessity for the federal government to look into the rising prices of newsprint and dependency on imported newsprint, home mills not holding newsprint shares and rising their costs sharply. He additionally requested abolition of customs responsibility on imported newsprint, extension of Directorate General of Trade Remedies for submitting anti-dumping, and extension of validity of RNI Circulation Verification Certificate to March 31, 2022.

“Considering the quantum of import and the customs duty at 5%, it will utmost yield ₹200 crore to the government exchequer in the next fiscal. But in view of the grim situation, it would be a great relief for the print industry if the government can consider abolishing customs duty on import of newsprint,” he stated.