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Budget 2019: FM Piyush Goyal announces single-window clearance for film industry

Budget 2019: FM Piyush Goyal announces single-window clearance for film industry

The Finance Minister also announced that an anti-camcording provision will soon be announced to prevent piracy of films. The provision will be added to the Cinematography Act. 

Amid multiple announcements, the Modi-led BJP government has also taken into consideration the Indian film industry. Finance Minister Piyush Goyal announced that there will now be single-window clearance for filmmakers. The Finance Minister also announced that an anti-camcording provision will soon be announced to prevent piracy of films. The provision will be added to the Cinematography Act. 

"Entertainment industry is a major employment generator. To promote entertainment industry - Single window clearance for ease of shooting films, available only to foreigners, is now going to be made available to Indian filmmakers as well. Regulatory provisions will rely more on self-declaration. We will also introduce anti-camcording provisions in the Cinematograph Act to control the menace of piracy," FM Goyal said.

The Finance Minister also announced that individual taxpayers up to Rs 5 lakh will get full tax rebate.

The minister further added that the government is committed to eliminating the scourge of black money. He said that anti-black money measures taken have brought an undisclosed income of about Rs 1.30 lakh crore to the fore. FM Piyush Goyal also said that there has been 18% increase in direct tax collections in 2017-18 with 1.06 crore people included in the tax base. Also, more than 1 crore people filed IT returns for the first time, after demonetization, he added.

Also read: Union Budget 2019: FM Piyush Goyal announces scheme to provide monthly pension of Rs 3,000

Additional, Piyush Goyal announced a scheme called Pradhan Mantri Shram Yogi Mandhan that will provide assured monthly pension of Rs 3,000 per month. The contribution will be Rs 100 per month for workers in unorganised sector from 60 years of age onwards, he said.

The Union Budget 2019 is an interim one. Once the new government comes to power after the elections, they will present the full budget.

Also read: Budget 2019 LIVE updates: Piyush Goyal's speech brings smiles to middle class! No need to pay income tax if you earn less than Rs 5 lakh