Budget 2021 For Entertainment Industry: Tax Relief, Subsidy, Encouraging Female Employment

Budget 2021 for the leisure trade: The movie trade has been one of many worst impacted sectors within the nation as a result of pandemic. After the theatres have been shut down and productions of movies and TV reveals stopped all throughout the nation, the trade suffered enormous losses. With Finance Minister Nirmala Sitharaman presenting her first pandemic price range at present, the trade is hoping for some aid. Also Read – Budget 2021: FM Nirmala Sitharaman Breaks Tradition, Carries Made in India Tablet Instead of Bahi-Khata

Reduction in leisure tax and aid to theatre-owners 
The main chunk of losses got here from the ban on movie-release in cinema halls. While the identical has been lifted now and the Information and Broadcasting ministry has lastly allowed 100 per cent occupancy in theatres, loads nonetheless must be taken care of. The largest aid can be the discount of the leisure tax. Many states are working with massive leisure tax and the price range might present some leisure in the identical facet. This additionally consists of the discount of GST. Any initiative in favour of cinema corridor homeowners, and to draw extra viewers to theatres can be appreciated. Also Read – Budget 2021 LIVE: Sitharaman Ditches ‘Bahi Khata’ For Made in India Tab, to Meet President Shortly

Boost to digital area 
The authorities may sit up for boosting digital platforms since that emerged as the one viable choice to preserve the trade going when nothing else was approachable in the course of the pandemic. The significance of a digital nation got here face-to-face within the yr 2020 and any initiative boosting leisure in digital area would solely profit the trade and the financial system. Also Read – Stocks to Buy Before Budget 2021 India: Here Are 5 Sectors to Look Out For

Subsidies to shoot in different states 
The different space that the federal government can look into is offering subsidies to shoot in states. The Uttar Pradesh authorities is already doing that however the problem is to make the whole nation look shoot-friendly. A subsidy to encourage taking pictures in states may even result in a rise in tourism and native employment to the state. The initiative has begun with the federal government encouraging filmmakers to shoot in Kashmir and UP, and there’s nonetheless much more to be accomplished.

Encouraging feminine employment within the trade
More eyes are on FM Sitharaman to gauge what she has within the pipeline to encourage women-employment throughout the nation. The movie trade employs many ladies in every sector, proper from efficiency, route, writing, music composing, and cinematography amongst different areas. The price range might ship out a optimistic signal and increase feminine employment within the trade by giving some aid to manufacturing homes in taxes and film-budget in the event that they get extra girls on board. Similarly, some monetary help might be given to feminine administrators to encourage them to make extra motion pictures, and to administrators for making motion pictures on women-related topics.

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