Budget 2005-06: Media
India is currently in the throes of an entertainment revolution spawned by economic liberalisation and the subsequent advent of cable television.
The players in the entertainment industry can be classified into three-link chain. First are the studios (including the animation studios), which comprise the hardware part of the industry, the second are the content providers and the third link comprises the distribution trolley's, which include the cable and satellite channels as well as the multiplex theatres.
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Reduction in customs duty of finished and intermediate products like picture tubes |
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Reconsideration in terms of higher FDI/FII investment limits in the sector in order to aid the growth of the industry |
| Budget 2002-03 |
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Budget 2003-04 |
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Budget 2004-05 |
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| Cable operators brought under service tax net.
Budgetary support for the Ministry of Information and Broadcasting increased by 22% to Rs 4.2 bn.
Customs duty on earth stations equipment and studio equipment reduced from 35% to 25%.
50% income-tax exemption for companies setting up and constructing multiplex theatres in non-metros. |
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Recorded audio compact discs removed from the purview of excise duty.
Peak customs duty reduced from 30% to 25%. |
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Rate of service tax raised from 8% to 10%.
Service tax imposed on TV or radio programme production.
Service tax net to include Multi System Operators (MSO) apart from cable operators.
Service tax exemption removed on broadcasting service provided by cable operators. |
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