Budget

Media and entertainment industry hails Union Budget 2017

Published

9 years ago

February 2, 2017

MUMBAI: On 1 February, the finance minister Arun Jaitley made significant announcements during the presentation of the Union Budget 2017. Although, there was no specific mention of measures for the media and entertainment industry, certain steps which have been taken to boost the economy have been appreciated by the industry, but it also disappointed some.

The budget 2017 mainly focused on boosting the infrastructure and lifting rural income besides bringing in reforms in the financial sector such as the abolition of the Foreign Investment Promotion Board (FIPB) so as to facilitate a new policy for foreign direct investment (FDI). The budget also focused on digitisation — allocating Rs 10, 000 crore to boost the rural fibre optics network, which came as a great news for many in the media and broadcast industry.

Indiantelevision.com reached out to several industry stalwarts to find out how they interpreted the Union Budget 2017. Here’s what they had to say:

Viacom18 group CEO and CII Media and Entertainment Committee chairman Sudhanshu Vats said, “Much had been speculated about the economic slowdown post demonetisation. With this budget, the government has taken important steps to boost the economy in a structured manner, building on the promise of transparent growth. Steps to liberalise the FDI regime further coupled with the abolishing of FIPB and tax reforms for MSMEs are bound to have impact in the foreseeable future. This budget has seen some positive solutions to tackle poverty in our country including one of the highest allocation of funds to MNREGA and rationalisation of rate for the lower personal tax slabs. I am particularly enthused by the strong reforms push for digitization and look forward to digital transactions increasing in the country. This also augurs well for digital consumption of video content. The move to cap political donations in cash at Rs 2000 and all-cash transactions at Rs 300,000 are also much-needed, bold steps that are in line with the government’s commitment to uprooting corruption. With Swaach Bharat being close to our hearts, the budget has built further on this theme in a welcome move. I’ve said this before and will say it again: as the M&E sector we have a lot to gain from buoyance in the economy at the aggregate level and I believe this Budget has delivered on that front.”

Zee Entertainment Enterprises Limited (ZEEL) MD and CEO Punit Goenka stated, “Budget 2017 speaks a lot about the government’s positive and committed approach towards creating a stronger and balanced economy. Being directionally right and focused on spending in growth-centric areas, it clearly reassures the fact that remonetisation is in.”

Times Network MD and CEO M K Anand said, “After the recent massive policy implementation of demonetisation, my expectation was of some radical reforms. I was a bit disappointed on that count. However, enhanced provision for MNREGA and allocations for rural, agriculture and allied sector and a clear push for the affordable housing sectors is the silver lining. Agriculture and real estate are the most important employment generating sectors in India. This should improve the rural situation which is still recovering from demonetisation. Hopefully, that will have a ripple effect on spending and the larger economy.”

Says ABP COO Avinash Pandey, “The Union Budget 2017 was disappointing as far as the expected incentive for the broadcast business is concerned. Service tax remains the same. Most importantly, there is no parity with the print sector. The ‘wow’ factor was missing (in the budget) as far as the business is concerned. Disposable income is going to increase, and hence the quantum of spending. Economy may revive after the implementation of the budget.”

Network 18 president revenue and Forbes India CEO Joy Chakraborthy is hopeful, saying, “We are seeing it as a positive budget. The budget is going to help consumption. Significant measures to improve electrification is eventually going to help the television industry. The general sentiment is that it is, overall a positive budget. Once people start spending money, consumption will be there and subsequently advertising too will follow.”

Says, BBC Worldwide – ‎BBC Worldwide India South East Asia and South Asia SVP and GM Myleeta Aga, “Overall a positive popular budget with personal income tax changes in line with the government’s declared intention to collect more taxes from the rich and reduce the tax burden on the middle income group.”

She added, “I was particularly encouraged to hear that the GST roll out will not be delayed. Operationally, for the production business, this will complicate working across states but this disruption should be temporary. Continued emphasis on the digital economy and increasing digital transactions will boost growth of e-commerce.”

SAB group CEO Manav Dhanda said, “Overall, there has been positives for the media and entertainment sector post the Union Budget. As digitization is the next big thing now, the end of March 2018 will see a great growth for digital video consumption across OTT. The youth can now have great opportunities laid for them by initiating the skill India mission that aims to start 100 India International centres. Also, since digitization is on a high, setting up high speed internet in 1.50 Lakh Gram Panchayat is a good move and will give a boost to internet penetration in India. There is no increase service tax by the government and is a positive outcome particularly for the M&E sector, a stable and positive fiscal situation is good for the economy which will also give an impetus to our advertising sales projections. Increased public spending through various schemes and focus on infrastructure investments should further help to accelerate economic growth. The economy seems to have being slowing down since demonetisation, impacting almost all sectors and one hopes this budget to act as a catalyst to propel the growth in the media sector as well.”

KPMG India partner tax Naveen Aggarwal said, “The Budget was based on broad themes of curbing black money, boosting individual spending, ensuring transparency and providing much needed impetus to agricultural and rural sector, infrastructure and digital economy.”

He added, “While the announcement to abolish FIPB in light of successful e-governance was surprising, further liberalisation in FDI policy will be keenly watched in context of M&E industry. Lastly, the FM provided much needed assurance on roll-out of GST as per schedule, confirming GST council finalising majority of its recommendations.”

He further added, “Similar to last two years, the Budget did not bring much respite or specific announcements benefiting M&E industry. While the expectation of overall reduction in corporate tax rate and abolition of MAT was given a miss, the proposal to reduce corporate tax rate for MSMEs to 25% (having turnover up to Rs 50 crore) and increasing the MAT credit entitlement (from 10 to 15 years) is a welcome move and will benefit medium scale service companies in M&E sector.”

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Budget

Decoding Budget 2026’s impact with CNBC-Awaaz’s Anuj Singhal

Published

4 months ago

February 6, 2026

indiantelevision.com Team

MUMBAI: Anuj Singhal, managing editor at CNBC- AWAAZ and CNBC BAJAR, operates at the sharp end of India’s business news ecosystem. With over two decades in business journalism, he has earned credibility for decoding policy, markets and macro trends for millions of Hindi-speaking investors. Equal parts newsroom leader and market analyst, he shapes editorial direction while anchoring flagship shows that break down the economy, politics and corporate India in real time.

Known for cutting through jargon and hype, Singhal blends data, discipline and clarity — a mix that has made him one of the most trusted voices in Hindi business news.

In this interaction, he discusses the Union Budget, trade deals, newsroom strategy and what truly moves markets and ratings.

• What was the single most market-moving announcement in this Budget, and why?
The most market-moving element was the clear commitment to fiscal consolidation without compromising capex. The glide path on fiscal deficit reassured bond markets and foreign investors, while sustained public investment kept growth expectations intact. That balance removed a big overhang for both equities and debt.

• Do you see this Budget as growth-oriented, fiscally cautious, or politically calibrated?
This Budget is growth-led but fiscally disciplined. It avoids overt populism, stays within macro guardrails, and prioritises medium-term competitiveness over short-term optics. Politically, it is restrained; economically, it is deliberate. The message is clear: stability over spectacle.

• How is CNBC-AWAAZ programming different, especially in decoding trade deal impact?
CNBC-AWAAZ goes beyond headline reaction. We translate policy into portfolio impact — sector by sector, stock by stock.

On trade agreements, our focus is on:
-Earnings visibility
-Export competitiveness
-Currency implications
-Margin sustainability

We don’t treat trade deals as political milestones. We decode them as profit-and-loss events for corporate India and map them to FY earnings trajectories.

• Which sectors look like clear winners and laggards over the next 12–18 months?
The next 12–18 months favour sectors aligned with structural spending and supply-side strengthening.

– Clear beneficiaries:
Capital goods and infrastructure
Manufacturing linked to export chains and PLI ecosystems
Power, defence, and logistics

– Relative laggards:
Consumption segments dependent on immediate demand revival
Businesses facing margin pressure from global volatility or pricing power erosion

This is not a momentum-driven market environment. It is execution-driven. Balance-sheet strength and order visibility will matter more than narrative.

• One headline to sum up this Budget 2026 for India Inc?
“Steady Hands, Long-Term Vision: A Budget That Rewards Discipline Over Drama”.

• What editorial filters do you apply before calling something ‘market-positive’ or ‘negative’?
We apply three structured filters:

– First: Earnings translation — does this materially change earnings visibility or cash flow outlook?
– Second: Time horizon — is the impact immediate, cyclical, or structural?
– Third: Valuation context — good news priced in or not.

If a policy doesn’t move earnings or risk perception, we don’t oversell it.

• How has business news consumption changed around big policy events?**
There has been a clear behavioural shift. They’re less interested in what was said, more in what it means for their money. There’s also a clear shift toward second-screen consumption, with digital platforms complementing live TV. The audience seeks sharper accountability. Viewers no longer accept broad optimism or pessimism — they want frameworks, numbers, and sector mapping.

• CNBC-AWAAZ decisively outperformed on Budget Day. What editorial and distribution choices mattered most?
Three deliberate strategic choices:

– Preparation depth:
We build scenarios months in advance — deficit ranges, sectoral incentives, tax calibrations — so we’re ready with analysis the moment numbers are announced.

– Language of impact:
We translate macro policy into investor-friendly Hindi without diluting complexity. That bridges accessibility and sophistication.

– Integrated distribution:
Television, YouTube, and digital platforms operate as one editorial grid, not parallel silos. This ensures continuity of narrative.We stayed analytical while others stayed reactive.

• How different is your YouTube audience from your TV audience?
The behavioural differences are subtle but important. TV audiences prioritise authority, structured debate, and context. YouTube audiences want speed, clarity, and actionable insights — often sharper, sometimes more opinionated. However, both share one expectation: accuracy. The format evolves; the trust benchmark does not.

• How do you retain viewers after the budget speech ends?
By shifting from announcements to implications.Retention comes from shifting the narrative from announcement to implication. We break down sectoral breakouts, stock-level impact, and what to do next. The speech is just the trigger; analysis is the destination.

• Is Budget Day your biggest traffic day?
It is one of the biggest — but more importantly, it is among the deepest in engagement. Viewers spend longer durations, revisit segments, and seek follow-up programming. That indicates behavioural trust, not just traffic.

• What’s the first thing you personally track on Budget Day — the speech or the markets?
The markets. They’re the fastest truth-teller. The speech explains intent; markets reveal interpretation.

• Your personal Budget-day ritual?
Early morning prep, minimal distractions, and once the speech begins, complete immersion. For me, Budget Day is less about reaction and more about reading between the lines.

• What drove your Budget-day ratings dominance, and how are Budget and trade deals shaping markets now?
Our dominance came from credibility, consistency, and clarity.
As for markets, both the Budget and recent trade deals are reinforcing a narrative of policy stability and global integration, which supports valuations even amid global volatility.

For Singhal, the market is the final judge. Policies can promise and speeches can persuade, but prices reveal what investors truly believe. As India’s investor class grows more informed and more demanding, business journalism is shifting from commentary to calibration. The premium is on clarity, context and credibility. In a landscape flooded with noise, the real edge lies in interpretation. In the end, the markets listen to numbers, not narratives , and Singhal’s craft is helping viewers tell the difference.

Budget

What is the Tax Holiday announced by FM in Budget 2026?

Published

4 months ago

February 2, 2026

indiantelevision.com Team

NEW DELHI: India has rolled out a long-dated tax break to tempt the world’s cloud and AI giants to plant their servers on Indian soil. The lure is simple and bold: base your data centres in India and your overseas cloud income can escape Indian tax until 2047.

A tax holiday, in essence, is a temporary exemption from certain taxes, used by governments to draw investment into priority sectors. It lowers early costs, improves returns and reduces risk for capital-heavy projects. In this case, the target is data centres, the backbone of artificial intelligence and digital services.

Under Budget 2026 proposals, foreign cloud companies can earn revenue from customers outside India without paying Indian tax, so long as those services are delivered through India-based data centres. Revenue from Indian users is excluded. That business must be routed through locally incorporated reseller entities and taxed in India.

An official statement said the proposal aims to “enable critical infrastructure and boost investment in data centres”, offering a tax holiday up to 2047 for foreign firms serving global markets via Indian facilities, while domestic sales are “taxed appropriately”.

The budget also offers a 15 per cent cost-plus safe harbour for Indian data centre operators serving related foreign companies, trimming transfer-pricing disputes and giving multinationals clearer guardrails on profit allocation.

The context is a global capacity crunch. AI workloads are soaring, power and land are tight in the United States and parts of Europe, and data centres are becoming strategic assets. India is pitching scale, skills and policy stability.

The money is already moving. Google has outlined a $15 billion investment in AI hubs and data centres after a $10 billion commitment in 2020. Microsoft plans $17.5 billion in AI and cloud expansion by 2029. Amazon has pledged another $35 billion by 2030, taking its planned India investment to about $75 billion.

Domestic groups are not sitting idle. Digital Connexion, backed by Reliance Industries, Brookfield Asset Management and Digital Realty Trust, plans an $11 billion, 1-gigawatt AI-focused campus in Andhra Pradesh. Adani Group has mapped out up to $5 billion alongside Google for AI data centre projects.

The push stretches beyond servers. A second phase of the India Semiconductor Mission targets equipment, materials and domestic chip intellectual property. Funding for the Electronics Components Manufacturing Scheme has risen to Rs 400 billion. Foreign equipment suppliers to bonded-zone electronics makers get a five-year tax break, while rare-earth corridors are planned to secure supply chains.

The strategy is blunt. Offer tax certainty, pull in capital, build digital muscle. If it works, the world’s data may increasingly be stored, processed and streamed from India. The holiday runs to 2047. The race to host the AI age has begun.

Budget

Union budget 2026 bets big on AI, startups and clean manufacturing

Published

4 months ago

February 2, 2026

indiantelevision.com Team

NEW DELHI: Union Budget 2026 marked a decisive shift towards building indigenous deep-tech capacity, decentralised startup growth and industrial efficiency, as finance minister Nirmala Sitharaman unveiled an “intelligence-first” strategy to power India’s next phase of economic expansion.

The budget prioritised operationalising the Anusandhan National Research Fund, rolling out capacity-building AI missions and scaling the Genesis programme, alongside a Rs 10,000 crore SME growth fund aimed at broadening access to capital beyond metro cities.

Technology founders across AI, consumer platforms and manufacturing welcomed the focus on patient capital for research and digital public infrastructure, saying it would strengthen domestic intellectual property and bridge the innovation gap between urban India and Bharat.

In renewable manufacturing, the government announced a historic rise in capital expenditure to Rs 12.2 lakh crore and rationalised duties on solar inputs to correct inverted duty structures. Industry leaders said the measures would cut logistics costs, boost domestic value addition and enhance the global competitiveness of Indian solar brands as new freight corridors reshape industrial supply chains.