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Lok Sabha
The Central Government has taken several initiatives to bring about changes in the entertainment sector in the interest of the overall development of this sector.
Institutional and bank financing are now accessible to the entertainment industry.
100% Foreign Director Investment is permissible in the sector.
Government has led participation in global markets with a view to enhancing visibility of film industry.
Film weeks and festivals are held on reciprocal basis with various countries.
Audiovisual co-production agreements with other countries are being explored to expand avenues of finances and markets for the Indian film industry.
The Committee for Development of the Entertainment Sector set up to suggest a policy framework for the film industry has recommended reduction of entertainment tax, steps to counter piracy in the film sector, measures to facilitate foreign film shooting in India etc.
A Venture Capital Committee has very recently suggested a strategy to facilitate the flow of venture capital into the sector.
This information was given by Minister of Information & Broadcasting and Culture, Shri S. Jaipal Reddy in written reply to a question in Lok Sabha today.
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