Budget impact on media & entertainment: BMR Advisors view

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Expectations of the Media & Entertainment ('M&E') industry like other industries were wide sweeping, in the backdrop of growing signs of a revival in the Indian economy. M&E industry expected support from the Government in this difficult economic period. However, there haven't been many major announcements or changes except the following proposals:

• Extension of tax holiday for companies eligible for deduction under Section 10A and 10B of the Act; to benefit animation studios that export content. 
•  Reduction of the tax withholding rate on rental of equipment from the current 10 percent to 2 percent. 
• Imposition of 5 percent basic customs duty rate on set top boxes