Mumbai – The finance ministry is finalizing a package for helping the media sector tide over the current global recession. A finance ministry official said that the package, which had been submitted by the Information and Broadcasting Ministry, would be for the print media though some portion may cover electronic media as well. Minister of State for Information and Broadcasting Anand Sharma said he had decided on a stimulus package after representatives of the media industry had written to the government about the adverse impact of the financial crisis on the media industry. “We are going to give some stimulus package to the media industry and we do hope to mitigate the situation,” he said. The minister refused to give more details but said it would greatly benefit the media sector as the government was very sensitive to difficulties being faced by them. The media industry, particularly the print sector, has been hit sharply by the fall in advertisement revenue and rising cost of newsprint because of the global financial crisis.
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