The Indian Broadcasting Foundation (IBF) today welcomed the "inclusive budget" but expressed disappointment as the government did not "accept" many of its demands, including that of granting infrastructure status to the broadcasting sector.
"We thank the Finance Minister for presenting an inclusive and well-rounded budget, which will not only help the Indian economy at large but also provide an opportunity to all in becoming part of the overall growth process," IBF Secretary General Girish Srivastava said in a statement.
Referring to specific issues of the broadcasting sector, Srivastava said that Jaitley has addressed some of the concerns on tax and policy matters but the "industry at large is disappointed on not getting the attention on some key issues such as carry forward of losses, in case of amalgamation or merger for service industry under the industrial undertaking under Section 72 A of the Income Tax Act, 1961."
The statement also mentioned that it seems that the budget "inadvertently omits" the long-term pending demand of grant of infrastructure status to the sector.
