Piyush Goyal in the Interim Budget 2019 proposed single window clearance for ease of shooting films, which was earlier only available to foreign film makers
Acknowledging his love for Bollywood, interim finance minister Piyush Goyal announced measures to boost Indian filmmaking and fight piracy in the interim budget.
Recommended ArticlesView All
Here’s why 2022 has been a very different year for two of India’s biggest AC makers
IST5 Min(s) Read
"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.