EXCLUSIVE: Akshaye Rathi and TP Aggarwal react after the entertainment industry gets snubbed in Budget 2021

Updated on Feb 02, 2021 11:33 AM IST  |  726.7K
EXCLUSIVE: Akshaye Rathi and TP Aggarwal react after the entertainment industry gets snubbed in Budget 2021 (Pic Credit: Getty Images)

Today, the Budget 2021 was announced in the Parliament session by the Finance Minister, Nirmala Sitharaman. However, allocations were not announced for the film industry. The Film industry has been the most affected during the Pandemic but the Budget seemed to have ignored them totally. While there are some who are not surprised about the snub one of the industries that pay the highest taxes, there are some who are still hopeful that post budget the government may consider giving some relief to the already suffering film industry. 

In an exclusive conversation with us, Industry experts reacted to this. Film exhibitor, Akshaye Rathi said, "Unfortunately there is no mention of the entertainment industry in the budget. But having said that, there is at least no additional burden. And also after the budget, the government does what it takes for us, and not only the center but the state government does whatever it takes to revive the fortunes of the entertainment industry. There is no doubt that it is the most affected sector in the aftermath of the pandemic. It requires significant hand-holding from the authorities going forward."

However, the trade expert hoped that some incentives would be announced for the industry post the budget session. He further added, "We hope that some bit of concrete measures and incentives are given to the industry. We are looking at electricity charges going from commercial to industrial rates retrospective waivers on minimum demand charges for the period of closure  waiver on property tax for the period of closure could be done."

Producer TP Aggarwal also shared his exclusive take on the snubbing. He said that he wasn't expecting much from the government. He added,"They have so much away that they don't have anything to give us. I had already mentioned that I don't expect anything from the government even though we hold an industry status. We don't get any loan we have to mortgage our property to acquire a loan-- we cannot mortgage our films. But the industry was looking at some reduction in GST and entertainment tax."

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