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Union Budget 2021: Film industry seeks tax breaks and subsidies

Union Budget 2021: Film industry seeks tax breaks and subsidies

Considering that the entertainment industry witnessed near-zero activity during the Covid-19 pandemic, film industry has high expectation from Union Budget 2021.

Industry watchers feel that it is high time the government treats the film industry at par with 'health care' and 'education' as it generates employment and caters to arts and culture.

Noted film-maker Indrajit Lankesh has pitched for subsidies and 100 percent tax holiday for forthcoming films as it will create a safe atmosphere for producers and directors to continue their work.

Going a step further, NM Suresh, Vice President of Film Federation of India said that government must remove the 50 percent seat occupancy rule in theaters as producers are dependent on collection and advances from the theaters and multiplexes.

Since GST is already being looked upon as a burden on business houses and the film industry is no exception, the industry has sought the slashing of at least SGST to help the film sector.

Lauding PM Narendra Modi's announcement of Rs 20 lakh crore economic package last year to various industries, the film industry has sought a similar financial package to help film producers.