Union Finance Minister Nirmala Sitharaman on Saturday announced a Rs 4,375.21 crore outlay for the Ministry of Information and Broadcasting in the 2020-2021 fiscal, an increase of over Rs 310 crore from last year.Also Read - Union Budget 2020: Tax Deduction on Affordable Housing Loans Extended by One Year
The allocation to Prasar Bharati remained at Rs 2889.36 crore, the same as the revised estimate of 2019-20. Also Read - Government Intends to Remove All Income Tax Exemptions in Long Run: Nirmala Sitharaman
In the budget, the allocation for broadcasting under the social services head has gone up from Rs 3067.26 crore to Rs 3218.56 crore. A total of Rs 967.29 crore has been allocated for information and publicity. Also Read - Major Tax Relief For Middle Class: Union Budget 2020 Reduces Income Tax Rates
While the allocation for the Film and Television Institute of India, Pune, has risen to Rs 49.4 crore from 30.87 crore in 2019-20, Rs 61.30 crore has been earmarked for the Indian Institute of Mass Communication, up from Rs 25.69 crore in the current fiscal.
Information and Broadcasting Minister Prakash Javadekar hailed the budget as “most pragmatic” at a time when the world economy is facing headwinds.
India has not only managed a “good growth rate” but is also marching towards a better rate, he said, adding that the budget will usher in all-round development.