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The government is likely to generate around Rs 1,733 crore by the auction of Phase III FM radio, the Information and Broadcasting Minister (I&B Minister) Ambika Soni said. On July 7, the union cabinet approved the phase III FM expansion, which extends FM radio services to about 227 new cities with a population of over one lakh. The phase three expansion will result in a total of 839 FM stations across 294 cities. The Cabinet also approved increase in foreign direct investment (FDI) and foreign institutional investors (FII) limit in private FM radio broadcasting company to 26% from the present 20%.
As per the new policy, private radio operators have been allowed to carry news bulletins of All India Radio. Depending upon the response from the bidders after the auction of first batch, the government has taken the e-auction route to auction the FM radio channels. E-auctions will be conducted in batches and the number of batches will be decided by the I&B Ministry, Ambika Soni said.
The Government will appoint an independent expert agency to conduct the e-auction. A notice inviting applications for participation in the auctions will be issued in due course of time.
Currently, 250 private FM stations are operational, generating Rs 900-1,000 crore in advertising revenue on a combined investment of over Rs 5,000 crore. The first phase of private FM radio started in 2001-02 when 22 stations were allocated to private operators. Under the second phase in 2006, 280 stations were allocated of which 250 are currently operational. The third phase was first recommended by the Telecom Regulatory Authority of India (TRAI) over three years ago.
In January 2011, the Pranab Mukherjee-led Group of Ministers (GoM) batted for e-auctions as the modality for spectrum allocation for the third phase. But the matter went on the back burner after several leading media companies, including the Times Group, HT Media, Jagran, Bhaskar, Mid-Day and Sun Network, opposed the e-auction methodology, citing fears of cost escalation further harming the loss-making radio industry.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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