Smart Living

Budget 2019: Govt announces measures to make shooting films easier, fight privacy

Updated : February 01, 2019 01:31 PM IST

In a bid to fight movie piracy, Goyal said that anti-camcorder provisions would be introduced soon.

Budget 2019: Govt announces measures to make shooting films easier, fight privacy

Acknowledging his love for Bollywood, interim finance minister Piyush Goyal announced measures to boost Indian filmmaking and fight piracy in the interim budget.

"Hum sabko bollywood ka shauk hai (We are all fond of Bollywood)," said Goyal, while announcing that single window clearance for ease of shooting films, which was earlier only available to foreign film makers, will now be available for Indian film makers as well. In a bid to fight movie piracy, Goyal said that anti-camcorder provisions would be introduced soon.

Politician-turned-actor Paresh Rawal was seen welcoming the move, as MPs including actor Kirron Kher gave a round of applause.

According to a 2018 report by global solution provider in digital platform security and media and entertainment, Irdeto, India’s $1.5 trillion entertainment sector loses $2.8 billion of its annual revenue due to piracy. The report identified India as among the top 5 countries for peer-to-peer (P2P downloads) in the world.

In his speech, Goyal also reiterated the government’s decision to slash GST rates on movie tickets from 28% to 18%.

Share prices of media entertainment companies including PVR Cinemas, Balaji Telefilms and Mukta Arts saw a spike in trade after Goyal’s announcements.

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

Budget 2019: Govt announces measures to make shooting films easier, fight privacy

You May Also Like

FMCG Q1 Earnings Preview: Another washout likely as consumer sentiment remains weak

TV18 Broadcast says effective cost control measures resulted into higher profitability

Federal Bank says retail loan growth continues to remain strong at over 25%

Trending on CNBC-TV18

recommended for you