Indian government has approved three long pending amendments in the FM Radio Phase-III policy guidelines.

These include:

• Simplification of financial eligibility norms to allow companies with net worth of Rs 10 million, instead of Rs 15 million earlier, to participate in the bidding process for category ‘C’ and ‘D’ cities.
• Removal of the three-year lock-in for restructuring management, during the 15-year license period.
• Removal of 15% national cap on channel holding.

The government is of the view that the three amendments together “will help the private FM radio industry to fully leverage the economies of scale and pave the way for further expansion of FM radio and entertainment to Tier-III cities in the country.”

“This will not only create new employment opportunities but also ensure that music and entertainment over the FTA (free-to-air) radio media is available to the common man in the remotest corners of the country,” it said in a statement.