I&B min hikes ad rates for print media by 25%
MUMBAI: In a major boost for the print media industry, the ministry of information & broadcasting (MIB) has hiked the ad rates by 25% over and above the existing rate structure for advertisement in newspapers by the Bureau of Outreach and Communication (erstwhile DAVP).
The decision has been taken with effect from 8 January and will be valid for a period of three years. The last such revision had taken place in 2013 when an increase of 19% had been announced over and above the rates of 2010.
The decision is based on the recommendations of the 8th Rate Structure Committee constituted by I&B Ministry which took into account several factors, including the increase in the price of newsprint, processing charges and other factors which go into the computation of advertisement rates.
The decision will be of great benefit especially to the medium and small newspapers including a large number of such papers in regional and vernacular languages.
In the current fiscal till 7 December, the government had spent Rs 527.96 crore on ads including Rs 244.32 crore on print and Rs 229.25 crore on audio-visual media. The government has spent Rs 208.55 crore on outdoor publicity (OP).