It’s that time of year when everyone is waiting for the Union budget to be read by the country’s finance minister. What will the new changes be? What will be the new additions? Everyone checks the news every minute for every new revelation before the finance minister reads the final budget. In keeping with custom, the entertainment industry is also keeping a close eye on what will come within its quota in this year’s Union budget.

The pandemic had started to have a big impact on the entertainment industry last year when the 2021 Union budget proposed changes to customs duty rates. In these, the temporary importation of costumes and props by filmmakers had been exempted. Experts hope this year will bring more substantial relief to the entertainment industry which has suffered huge economic losses over the past two years.

Outlook caught up with a few filmmakers and trade experts to see what they expect from the Union budget this year:

Veteran producer Anand Pandit said, “The film industry could use some joy and relief after the pandemic. I hope especially for movie theater owners there is help. The industry has seen thousands of theater closures and with fewer goings, survival has been difficult. Quick loans and tax breaks would help them immensely. Tax breaks for the launch of new screens would be welcome. Exhibitors are the backbone of the industry and their survival is important to our financial well-being. Reduced entertainment tax, one-stop permits for filming in the country, and ease of doing business will go a long way in boosting morale. We wield immense soft power, but our financial might is no match for the support enjoyed by many other industries. I hope that this time the budget will give us many reasons to celebrate.

Akshay Bardapurkar, founder of Planet Marathi, says: “The pandemic has affected everyone. As a regional content creator, we are looking forward to the government granting basic GST exemptions for a certain period of time or getting the GST credit on inputs refunded, as a large part of the budget is already locked in during of the past two years due to the non-release of films. Also, TDS panels for the entertainment sector concerning services and professionals should be reduced. Support to regional brands and MSMEs in the entertainment industry which started in the past two years should be provided. The entertainment industry has always been tackled last when it comes to budget and policies. It is high time to realize the potential of this sector which generates huge revenues and the percentage of jobs it creates in a region.

Director Vinod Sam Peter says: “Entertainment is a fast growing industry, although no industry status is granted. The revenue generated is obviously huge. The tax slab is the highest for the entertainment or cinema sector. People go to work, go home, can be stressed, once a week they have time to relax. Movies are therefore the best recreational activities. I consider that watching a film is not a luxury but a need to de-stress. As a filmmaker, no film made is ever made with discrimination for the rich or the poor. This is so that everyone can enjoy it. The films are placed on a luxury slab. I think the government should consider lowering the slab.

Herumb Khot, producer of the popular TV show “Dhadhakan Zindagii Kii,” says, “The entertainment industry has always been neglected by the government. We are still the most heavily taxed and least supported industry despite being the sector that provides direct and indirect employment to many. The past 2 years have been bad for our industry resulting in huge losses. We need government policy support to revive the industry and prosper. My personal request would be a relaxation of the percentage of GST taxes until the losses are recouped and our industry stabilizes. I would also like to see spending on building infrastructure for entertainment increased significantly.

Let’s wait and see tomorrow what the Minister of Finance has in store for the entertainment industry.