It’s going to be a big day for the country as the Interim Finance Minister Piyush Goyal will be presenting the Union budget 2019. The last budget before the elections come knocking, the Narendra Modi Government is expected to woo rural voters and businesses in the country, however, cinema is one of the largest industries in the country. And it is only natural that Bollywood will have its own share of expectation from the government too.
Speaking to Financial Express Online, Film trade analyst Sumit Kadel expressed his happiness over the reduction of GST tax of 28 percent to 18 percent. Kadel added that the cut bringing brought a huge relief for the industry, now producers, distributors and exhibitors can enjoy extra 10 percent profit which was not the case a month back.
However, he was positive that the government will address the industry’s concerns. He said, “In a meeting with PM Modi film delegation has already expressed their concerns for piracy and government has promised them to take stern action on the same. So, this year film industry is quite happy with the recent developments & not expecting much from this year budget.”
Speaking to Financial Express Online, Girish Johar said, “Our film and entertainment industry should not be ignored this time.” Johar is of the view that subsidies and more platforms should be provided for the people in the entertainment industry. He added that more land for cinemas and shooting
space will be of great help as well.
However, his concern remained piracy and entertainment tax which, he said, should be reduced, not only by centre but also by the state government.
