New Delhi: On Wednesday, the Union Cabinet gave the green light for the third batch of ascending e-auctions under the Private FM Radio Phase III Policy, which will introduce 730 FM channels across 234 new cities. The estimated reserve price for this expansion is set at Rs 784.87 crore.Union Information and Broadcasting Minister Ashwini Vaishnaw announced that the Cabinet also sanctioned an annual license fee (ALF) for FM channels, set at four percent of gross revenue, excluding GST. This new fee structure will apply to the 234 newly covered cities and towns.The expansion aims to address the unmet demand for FM radio services in these areas, which have been underserved by private FM broadcasting. The initiative is expected to enhance the availability of local content in regional languages, foster job creation, and promote local dialects and cultures. The rollout aligns with the ‘vocal for local’ initiative, bringing fresh and diverse content to communities across the newly included cities and towns.