Media Sector

Important measures in Budget '00-01 ·

-Reduction in customs duty on colour films, cinematographic cameras and other related equipment.

-Liberalisation of venture capital investment in media companies.

-Export exemption removed to the extent of 20%, and a further removal of 20% in subsequent years.

Expectations from Budget 2001 - 02

-Reduction in customs duty on equipment related to broadcasting and cinema. ·

-Removal of customs duty on newsprint.

-Removal / Reduction of excise duty on Music cassettes, Audio and Video CDs.

-Uniform entertainment tax at the central level for the cable operators and for the film industry.

-Strong Anti-piracy laws.

-Parity with the Information Technology industry in respect to import of capital equipment, overseas investment and stock listing norms.

-Our Outlook :

We expect customs duty cut on films and cinema related equipment in order to improve the infrastructure of theatres and encourage production of better quality films in higher volumes.

We expect abolition of excise duty on music cassettes and audio CDs in order to curb music piracy and encourage domestic manufacturing of the latter.