The Union Cabinet, as per an official statement on Thursday, has granted approval for the auctioning of over 680 FM channels in 236 cities, including border areas in Jammu and Kashmir. The anticipated revenue from this auction is Rs 1,100 crore. Batch-I and Batch-II auctions of private FM radio channels, conducted in 2015 and 2016 respectively under Phase-III of the FM Policy Guidelines, saw the sale of 97 channels in 56 cities and 66 channels in 48 cities, respectively.
The decision, revealed on Thursday but made during a meeting chaired by Prime Minister Narendra Modi on Wednesday, paves the way for the auction of 683 channels in subsequent batches. This initiative aims to benefit cities without private FM radio channels, particularly in border areas of Jammu and Kashmir and the northeast, where populations are less than one lakh. Additionally, the auction will encompass cities in districts significantly affected by Left Wing Extremism.
Upon the complete rollout of FM Phase-III auctions, private FM radio broadcasting will cover all 29 states and six out of the seven union territories, excluding Dadra & Nagar Haveli. The statement also predicts that this move is expected to generate direct and indirect employment for over 10,000 individuals on a pan-India basis, with estimated revenues exceeding Rs 1,100 crore.
