Need growth-oriented Budget with significant tax-breaks to boost OOH: Aman Nanda
With the Budget session of Parliament commencing from today, all eyes are on the Union Budget 2021-22 that will be presented by Finance Minister Nirmala Sitharaman. As in the case of other media, barring digital and television, the out-of-home (OOH) industry saw major setbacks in 2020 as traffic on the roads came to standstill due to the pandemic and lockdown. The OOH industry is looking at a growth-oriented Budget to buoy the industry again.
Aman Nanda, Chief Strategy Officer, Times OOH, remarked, “The entire advertising industry is eagerly waiting for marketing spends to bounce back to pre-COVID levels, aided by fiscal stimulus from the Union Budget 2021.”
Speaking about the overall positive market sentiments, Nanda further said, “With positive developments on the vaccine front, Indian consumers are already beginning to resume their usual activities, with traffic on the road at 75% of pre-COVID levels and domestic air passenger traffic set to touch 80% of pre-COVID levels in the coming months.”
“A growth-oriented budget with significant tax-breaks can further catalyse demand, and boost the out-of-home (OOH) industry,” he affirmed.