Cabinet approves rolling out private FM radio to 234 new locations

The Union Cabinet, chaired by the Prime Minister Narendra Modi, has approved the proposal for the conduct of third batch of ascending e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs.784.87 crore under the Private FM Radio Phase Ill Policy.

Reportedly, the Cabinet also approved the proposal to charge the Annual License Fee (ALF) of the FM channel as four percent of gross revenue excluding Goods and Services Tax (GST). This will be applicable for 234 new cities or towns.