Budget Expectations 2023: Union Budget 2023 will be presented in Parliament today. In such a situation, the entertainment industry also has high expectations from the upcoming budget. Now it has to be seen how much relief this industry gets in the budget.
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Union Budget Expectations 2023: today finance minister nirmala sitharaman general budget in parliamentBudget 2023) will present. The central government can announce several tax reforms and changes in the existing economic policy. Different sectors of the country have high expectations from the union budget. Anyway, industries are recovering from Corona and the entertainment sector (entertainment industry) has returned to Raunak. The entire entertainment industry, including Bollywood, is looking forward to the government reducing the prices of movie tickets and OTT subscriptions. Next, we will know what relief this industry is expected to get from the Union Budget.
According to reports, many experts from Bollywood and film industry are of the opinion that the rate of movie tickets should be uniform. So far, there is a huge difference in the price of movie tickets for single screen theaters and multiplexes. This shows the quality compromise by the cinema halls, which is not right for the users’ experience.
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Will movie tickets be cheaper?
If the demands of the entertainment industry are accepted, then in the Union Budget 2023, an announcement can be made to make movie ticket prices uniform. This would mean that the price of multiplex movie tickets would come down. This will greatly benefit the low budget customers and they will also be able to enjoy the movie on the big screen.
entertainment tax relief
India is one of the highest entertainment tax collecting countries in the world. Although it is a state matter, a new policy can be brought in the upcoming budget to regulate the entertainment tax on movie tickets. If this happens, movie tickets will become cheaper and the burden of the general public will also be reduced.
Budget impact on OTT
On the other hand, talking about the OTT platform, the picture is not clearly visible about it. It is not yet clear whether any announcement will be made in the Union Budget on the price of OTT subscription or not. At present, private companies themselves decide the price of OTT subscription for different modes and formats. The growing popularity of the OTT platform has also affected the movie theater industry.
Movie Theater vs OTT Platform
If the prices of movie tickets are cheap, then more and more people would like to watch movies on the big screen only. In such a situation, OTT platforms can also reduce the subscription price to compete with movie theaters.
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