Finance Minister Arun Jaitley presented the Budget for this year i.e 2017 and it looks like he has got his plan just in place as far as the film industry is concerned. He didn’t really say anything in specific about the entertainment industry but he did mention how they plan on taking strict actions against piracy and other such important issues.
He also went on to say that they will be implementing GST soon and he even assured that demonetisation won’t affect the industry next year. Here’s taking a quick look at the impact of Union Budget 2017 on the media and entertainment industry.
The issue of piracy has been ignored since a very long time. Just recently there were reports stating that Hrithik Roshan’s Kaabil and Shah Rukh Khan’s Raees which have released merely a few days ago, have already been made available online for free download.
This in itself is a proof that piracy is prevalent on a huge scale in the country. Arun Jaitely talked about curbing piracy by setting up quick action teams which will work closely with the financial sectors and regulators.
Jaitley also discussed how he aims to attract more foreign studios to invest in India. Hence world cinema will be easily accessible to anyone and everyone in the country.
Quite a few films didn’t work well because of demonetization. Arun Jaitley has promised that it won’t affect the films releasing this year.
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