By Khushi Keswani

As the Union Finance Ministry prepares to present the full Union Budget for the fiscal year 2025 in July, Indian Newspaper Society President Rakesh Sharma met with Finance Minister Nirmala Sitharaman to seek essential concessions aimed at bolstering the newspaper industry in India.

"I had gone out to seek certain concessions for the industry," Sharma stated, highlighting the critical issue of the 5% customs duty on newsprint, which has been a significant financial burden on the sector.

This duty, if withdrawn, could potentially alleviate some of the financial strain faced by newspapers, he said.

In 2020, the government reduced the customs duty on newsprint uncoated paper (glazed) and light-weight coated paper used to print newspapers and magazines from 10% (proposed in Financial Bill 2019) to 5%.

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