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Lok Sabha
The Government has taken several initiatives to bring about changes in the entertainment sector in the interest of overall development of this sector.
Institutional and bank financing are now accessible to the entertainment industry.
100% Foreign Direct Investment is permissible in the film 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, a sub-committee of the State Information Ministers’ Conference (SIMCON), 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 which was set up to suggest a strategy to facilitate the flow of venture capital into the sector has submitted its recommendations.
The National Film Development Corporation, a public sector unit under the Ministry of Information & Broadcasting provides limited funding for films and oversees the integrated growth of the film industry in tune with objectives of the national economic policy.
This information was given by Minister of Information & Broadcasting and Culture, Shri S. Jaipal Reddy in written reply to a question in Lok Sabha.
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