How is it then possible for Indian newspapers to exist and be profitable? Advertising, of course, which is by far the largest source of revenue for media companies. And the largest advertiser in India is the Union government through its Directorate of Audio Visual Publicity (DAVP). In the year ending March 2017, the Modi government spent nearly Rs 1,300 crore on advertising and publicity, of which Rs 468 crore went to newspapers. This was down from Rs 508 crore the year before, though DAVP’s budget went up by 8 per cent.
