NEW DELHI: Prasar Bharati is expected to benefit to the tune of Rs.120.71 billion during the current fiscal because of various measures taken to financial restructure of the public broadcaster.

Following recommendations of the group of ministers on Prasar Bharati, concerted efforts have resulted in financial restructuring of the public broadcaster.

These include exempting it from income tax, waiver of interest on loan in perpetuity, capital loan and penal interest and converting the same into grant-in-aid, waiver of accumulated arrears of space segments and spectrum charges accrued upto 31 March 2011; plan capital support henceforth to be through grant-in-aid without any loan component and providing of non-plan support for the next five years for meeting 100 per cent expenses towards salary and related expenses.

The board of Prasar Bharati chaired by Mrinal Pande today approved the various steps taken for the financial restructuring and improving the functioning of the public broadcaster.

To improve the look, feel and content of both the media (Television and Radio) for attracting listeners and viewers, distinguished professionals have been engaged.

The Information and Broadcasting (I&B) Ministry had earlier set up an expert committee in Prasar Bharati (Sam Pitroda Committee) which will suggest the restructuring of Prasar Bharati