Union Minister for Information & Broadcasting M. Venkaiah Naidu said the Union Cabinet has approved the Model Shops and Establishment Act, facilitating round-the-clock working hours aimed at generating employment prospects by allowing cinema halls, restaurants, shops, banks and other such workplaces to remain open 24/7.
Speaking to the representatives of the Media and Entertainment (M&E) sector, he said all their concerns regarding new tax rates in the GST structure would be conveyed to the Finance Minister. The minister addressed the CEOs Round Table Meeting organized by FICCI on Monday assuring them of a comprehensive review of the Cinematograph Act, 1952 including Copyright and IPR Protection issues, in the light of the reports submitted by Mukul Mudgal and Shyam Benegal.
On the issue of grant of permissions to TV Channels, the Minister said the processes and procedures in the broadcasting sector would be streamlined soon. He said the E-Auction of the Second Batch of Private FM Radio Phase III Channels that commenced a week ago saw 266 FM Channels in 92 cities comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of batch I of Ph-III had been put on auction in the second batch.
He also said a new National Centre of Excellence for Media will be set up to train the industry professionals. The Ministry was also in the process to setup a Film Promotion Fund to support movies, including Bollywood and Regional films, for participation in foreign film festivals.
The audio-visual co-production agreements signed by the Government would help film industry to explore more resources and share best practices. He mentioned that the Cabinet has recently given approval to the agreement between India and Republic of Korea.