India Woos Print Media by Extending Stimulus Package Term; Gives Broadcast Media a Miss

The Photograph sourced from google images shows a man reading Times of India, the country's most read broadsheet.
The Indian print media was relieved on Monday after the finance minister extended a stimulus package offered to the industry by another six months till Dec. 31, 2009.
"Since print media is still passing through difficult times, I have decided to extend the stimulus package for another six months...," Pranab Mukherjee said in his budget speech.
In the interim budget presented in February, Mukherjee offered a stimulus package for the industry which included a waiver of 15 percent agency commission on directorate of advertising and visual publicity (DAVP) advertisements.
The offer also suggested a 10 percent increase in the DAVP rates to be paid as a 'special relief' subject to proof of loss of revenue in non-governmental advertisements.
DAVP is the publicity arm of the Indian government.
Print media across the globe has been affected in the worst economic downturn since the great depression as key clients such as airlines, real estate, auto, and retail players were forced to curtail ad spending as consumer demand slumped.
Interestingly the broadcast media which too is facing a similar downturn was kept out of this benefit. Most Indian broadcaster including NDTV has reduced salaries of employees across board.
In the most drastic step so far newcomer channel INX News has fired 78 of its staff.
The finance minister has abolished fringe benefit taxes, which will also the help entertainment and media sector that incurs significant expenditures previously under fringe tax.