Essel Group and ZEE, chairman Dr Subhash Chandra shares his views on the Union Budget 2015-16 presented by Finance Minister Arun Jaitley in the Lok Sabha on Saturday.
The wars fought (won or lost) in the human history have been on ZAR (wealth) ZORU (women) or ZAMEEN (territory) including the two world wars.
Though I am asked to write about the budget 2015, you (as a reader) will be surprised and will ask why Subhash Chandra is talking about wars and what is the connection of budget of India.
I firmly believe that there is connection. As I believe that the third world war is and will be on mind share. Who controls the maximum mind share will be the winner of third world war. To my mind the war has been already begun and India is not participating yet. Also Read: Union Budget 2015-16 by Finance Minister Arun Jaitley News Updates
We look at traditional media of Television or Print. Even today whatever is broadcast on BBC or CNN is taken as truth. In new media Google is ruling. When a primary or secondary school child or a teenager and adult youth wants to get a question answered, they log onto Google. In case Google reads “Balgangadhar Tilak (Lokmanya Tilak) was a militant” ; they have no choice other than to believe it.
The media (Indian) started during the freedom struggle developed as print media industry. Since 1992-93 television started. Today television in India is a large generator of employment. It is giving job to 1.2 million people across country out of which 500,000 people are self-employed as Producers, Cable operators and Technicians. It is reaching out to South Asia across Indian borders and in 170 countries.
The media industry was expecting relief in terms of taxes which have been imposed during previous regimes. Today Cable & DTH industry bringing the signals into One Hundred and Ten million homes and including community viewing it is reaching to 80-85% of the Indian population do not deserve such heavy taxation. It is suffering from Service tax, Entertainment Tax & import duties on set top boxes and other equipment.
On top of it the license for levied on DTH operation is huge.
This industry which can be termed as a soft power for India and Indians living overseas. It is due to this soft power from India, which could over past fifteen months take Indian Prime Minister Narendra Modi’s views to the diaspora which resulted into a huge gathering at Central Park in New York or for that matter at Sydney Olympic Park in Australia.
India will have no choice but to strengthen its reach to the humanity across the globe, for which the traditional as well as the new media will be required to be strengthened. This becomes even more important when this industry is growing and contributing significantly to the economy and employment generation.
We were expecting reduction of taxes in the 1st phase and expect to get same sops in 2nd and 3rd phase.
The Finance Minister will have to recognize that it is media industry which is a catalyst in digitizing India as well.