Budget 2021 Entertainment Industry Expectation

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Budget 2021 Entertainment Industry Expectation

Covid has changed the way of living from every perspective. Covid makes us realize that home is the safest place on the earth, and Health is the greatest wealth any Human Being can have. Because of Covid, every industry is affected, and the most worst affected industry is the entertainment industry. Social distancing is very important during Covid that’s why Theaters remained closed the whole year.

The OTT platforms performed well, but it is not sufficient. This year people have huge expectations from the Union Budget of 2021. Here we will discuss the expectations of some key players in the entertainment industry.

Ashish Hemrajani, Founder and CEO, BookMyShow

Ashish Hemrajani Founder and CEO BookMyShow

He says that India has a great future in the entertainment industry. It is required that the government must develop laws and policies in favour of the industry. He also said that there is a requirement for proper infrastructure and a need to reduce GST on the Indian Cinema.

He also states that we have to make an effort to make the out-of-home entertainment available to everyone. According to him, there is a requirement for the adoption of global methods on the regulation policy if we want to make the industry a global destination for entertainment.

Niranjan Gidwani, independent consultant director and former CEO of Eros Group, Dubai

Niranjan Gidwani

He has discussed some points which are very important for the transformation of this Indian film industry. He said that there is a requirement for the development of advanced technology to engage the customers better.

According to him, there is a need for quick professionalism in the industry, and the government must encourage some startups in this field. Finally, he stated that the government should bring the 5G and other wireless networks very soon because this will boost this industry.

Malini Agarwal, Founder, Mis Malini and Creative Director,

Malini Agarwal, Founder Mis Malini and Creative Director

She said that at first, the government must develop some policies for the recovery and stabilization of the industry. According to her extension in the loan moratoriums, target tax breaks, debt forgiveness, loan at accessible rates, etc., are some steps that are necessary to bring the industry back on track. She also said that there is also a need for preparation for any such incident in the future.

Raveesh Jaiswal, Founder, Bombay Theatre Company

Raveesh Jaiswal, Founder, Bombay Theatre Company

He said that this budget is very important because it will decide the industry’s recovery and stabilization. He said that there is a requirement for relief in some theatres and performing venues in the tax and service cost. This place has faced a huge loss due to pandemic and safety norms like limited seating capacity, sanitization, etc.

Abhi and Niyu, digital content creator-duo

Abhi and Niyu, digital content creator-duo

They said that the government must provide support for the distribution of movies in foreign countries. They also said that the film division could support filmmakers to market their movies in the international market. According to them, India has a huge potential in Filmmaking and writing, which will help them earn foreign exchange. This is also beneficial for the economy