Union Budget 2017: Finance minister talks about some economic changes in Indian cinema

The Finance Minister, Arun Jaitley has presented the Union Budget 2017 today. If we go through this year budget, the finance minister seems to have some goodies, especially for the entertainment industry. He does not reveal any specific plan for the world of cinema, but he did mention few ways to curve piracy in the film industry. The minister talked about the strict actions taken against the piracy and some other serious issues in the industry. Mr. Arun Jaitley said that he is looking to implement GST bill as soon as possible. He also told that the demonetization move by the government is not going to have much effect on the cinema industry next year. The business of Bollywood 2016 was average this year due to piracy and demonetization Important points from the Union Budget 2017 for the entertainment industry: Piracy: Piracy is one of the biggest issues for the entertainment industry. It is also the most ignored issue, as there has not been any strict action taken for curving this issue. There have been several instances, where the movie has been released online before hitting the theater. Once the movie hit the internet, it affects a lot to the collection of the particular movie. It is very clear that piracy affects the business of a movie big time. Arun Jaitley said that the government will establish new action teams, which will take strict and quick actions against this kind of issues. The new team will work with closely with the financial team and the regulators to solve piracy problems as quickly as possible. Arshad Warsi's take on demonetization Global Cinema The Finance Minister of India also discussed the idea of bringing foreign studios to India. He talked about how he is planning to attract more foreign studios to invest in India, which will make global cinemas more accessible. The people in India will be able to access some of the world cinema very easily. Effects of the Demonetization The Demonetization move of the government has also affected the collection of the cinema. The finance minister has assured that it will not affect the collection of a film at the box office this year. You may also like :- Bollywood Movies 2017 Upcoming movies List Box office collection Superhit Movies List Top 10 Highest Grossing Movies 100 Crore Club