Indian Newspaper Society President L. Adimoolam met Union Finance Minister Nirmala Sitharaman on Friday and sought relief from the Government of India on a few issues faced by the print media industry in the upcoming Budget.
During the meeting, Mr. Adimoolam pointed out that most newspapers, despite ensuring that essential information reached millions of households every day during the COVID-19 pandemic and the lockdown, have stopped sending newspapers to rural areas to cut down on distribution costs, resulting in the rural population being left to depend on fake news on social media.
Stating that it would take two or three years for the industry to recover, Mr. Adimoolam requested the Union Finance Minister to provide relief for the print media in the upcoming Budget and presented five demands.
Mr. Adimoolam stressed on the need for the government to look into the rising costs of newsprint and dependency on imported newsprint, domestic mills not holding newsprint stocks and increasing their prices sharply. He also requested abolition of customs duty 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 said.
