News Broadcasting
Industry sees some positives in budget
NEW DELHI / MUMBAI: Presented below are reactions from a cross-section of the industry to Budget 2004.
Zee Telefilms CMD Subhash Chandra:
“The 2004 budget is aimed towards fiscal consolidation with focus on growth and equitable development. I am very happy to see that there is adequate emphasis on rural development as well as on infrastructure development.”
“Rural incomes are a powerful driver of demand and should benefit all sectors of the economy including broadcasting and media. It also creates an attractive environment for FDI and FII investments into India.
“Increased support to basic education, public healthcare schemes, strengthening of PDS, improvement of basic facilities for the poor sections of the society like electricity, housing for poor will bring about widespread social development, if implemented well.
“Though I am of the view that instead of levying 2 per cent cess, if the Finance Minister gives 100 per cent income tax exemption to businesses that provide Primary education in rural India, it would have achieved the desired result.
“Increase in FDI limit in the aviation, insurance and telecom sector is a very encouraging move and signals the seriousness on infrastructure development. It also signals continuation of the reform process, which is welcome.
“As far as the television and media sector is concerned, this budget does seem to have some positive impact due to the offset available in service tax against the tax chargeable on services provided by broadcasters.
“Overall the budget is a balanced one without much inflationary outcome.”
Star India CEO Peter Mukerjea
“The overall budget is good, in that if the rural sector is able to flourish then its impact on the economy will benefit the country as a whole. As a company that has invested very substantially in India and has plans to invest more, we welcome the setting up of an Investment Commission. However, we have certain concerns. The hike in service tax to 10 per cent and the widening of the service tax net to include independent TV and radio programme producers will have a negative impact on our input costs.”
BAG Films MD Anurradha Prasad:
“The government has brought TV and radio production houses under the service tax net, but has not given any incentives for long haul projects like setting up world class post-pproduction facilities. It’s the royal ignore,” she added.
Balaji Telefilms CFO Devrajan
“The sponsored category of our revenue model will not attract service tax, although from now on the commisioned model will come under the purview of service tax. Having said that, this is still revenue neutral, in the sense neither the production house nor the channel will be impacted by the service tax all thanks to the facility of input credit.”
UTV director operations & finance Ronald D’Mello
“The content and production industry on the whole needs a little pampering and incentivisation in terms of import of equipment among others as has been requested to the Goverment at many occasions. Imposition of service tax will defintely increase the cost of procurement of content by the channel inspite of the input credit facitlity and this was quite unexpected.”
News Broadcasting
Rising Bharat Summit 2026 spotlights India’s global ascent
PM Modi keynotes two-day event with ministers, diplomats and icons in New Delhi.
MUMBAI: India didn’t just host a summit, it threw a coming-out party for a nation ready to own the global stage. The News18 Rising Bharat Summit 2026, held on 27–28 February in New Delhi, emerged as a high-octane platform for ideas, vision and strategic dialogue, uniting national leadership, global policymakers, industry titans, defence strategists and cultural icons under the theme “Strength Within”.
Prime minister Narendra Modi set the tone with a keynote that framed India’s resurgence as a reclaiming of lost potential built over generations. “In previous industrial revolutions, India and the Global South were merely followers,” he said. “But in the era of Artificial Intelligence, India is a partner in decisions and shaping them.” He highlighted the country’s thriving AI startup ecosystem and the recent AI Impact Summit attended by over 100 nations.
Union minister Piyush Goyal (Commerce & Industry) stressed India’s readiness to scale exports and deepen manufacturing, while Ashwini Vaishnaw (Railways, I&B, Electronics & IT) positioned technology and infrastructure as twin engines of growth, especially in AI and digital trust. Jyotiraditya Scindia (Communications & North East Development) revealed India’s ambition to lead in 6G through the Bharat 6G Alliance and partnerships with over 30 countries.
Global voices added depth: former Singapore Foreign Minister George Yeo called India’s development “self-sustaining” and strategically vital; ex-UK Chief of Defence Staff General Sir Nick Carter asserted India deserves a seat at the great powers’ table; and former US Commerce Secretary Carlos M. Gutierrez joined ambassadors from Norway, Germany and Sweden in discussions on geopolitical realignment, sustainability and defence preparedness.
Other speakers included veteran investor Ramesh Damani, World Gold Council CEO David Tait, Vianai Systems founder Dr Vishal Sikka, DeepTech Bharat Foundation co-founder Shashi Shekhar Vempati, defence experts Rajesh Kumar Singh, Sunil Ambekar, Patrick McGee, Tom Cooper and Adrian Fontanellaz, plus cultural and sporting icons Kangana Ranaut, Saina Nehwal, PR Sreejesh, Mohammed Shami, Yuzvendra Chahal, Mithali Raj, Anil Kapoor and Yami Gautam.
The summit was supported by Jio Financial Services (Presenting Partner), Phonepe and DS Group (Co-Presenting Partners), Pernod Ricard India and Kia Seltos (Powered By & Driven By), state governments of Uttar Pradesh, Chhattisgarh and Uttarakhand (State Partners), and associate partners including NSE, M3M Foundation and Reliance Industries.
Broadcast live across News18 Network, CNBC-TV18 and CNBC Awaaz, the event reinforced India’s image as a confident democracy and emerging global power proving that when strength comes from within, the world can’t help but watch.
