MUMBAI: The Central Government has taken the following initiatives for facilitating the growth of film sector, as announced by the minister of Information & Broadcasting and Parliamentary Affairs, P R Dasmunsi in Lok Sabha today.
The initiatives include:
- Institutional financing is now available to the film industry.
- 100 per cent foreign direct investment is permitted in the film sector.
- Government has encouraged participation in global markets with a view to enhancing the visibility of the film industry abroad.
- Film weeks and festivals are held on reciprocal basis with various countries.
- Audiovisual co-production agreement has been signed with the Republic of Italy and Government of UK and similar proposals from other countries are being explored to expand avenues of finances and markets for the Indian film industry.
- The recommendations of the Committee for the Development of entertainment sector have been conveyed to all the State Governments.
- The National Film Development Corporation, a public sector unit under this Ministry provides financial assistance and other services to the film industry.
The endeavor is to facilitate the entertainment sector to achieve its potential and promote growth in exports, so that this sector is able to increase its contribution towards generating income and employment in the country, informs an official press statement.
The Federation of Indian Chambers of Commerce and Industry (FICCI) has also submitted a memorandum on film industry for the 11th Five Year Plan. The memorandum deals with various issues relating to the film sector. It contains suggestions to mitigate video piracy, levy of uniform entertainment tax across all States, fiscal and tax benefits, review of the Cinematograph Act, incentives for setting up polytechnics, institutes and film schools and an Export Promotion Council for films.
