Restart Package: CM Jagan Announced Incentives To The TFI

The film industry is one of the most affected fields due to the ghastly virus attack on the world. The shootings had to stop, theaters had to be shut down and many daily workers lost their earnings. Though the shootings are slowly getting back to normal, there is still a lot to recover from the effect of the global pandemic.

As an attempt to relieve the film industry and the people whose livelihood totally depends on the industry, the AP government is giving some concessions and incentives for the Telugu film industry.

AP CM YS Jagan announced a ‘Restart Package’ is intended to revive the affected film industry due to the Covid-19 pandemic. AP Government is taking the burden of around Rs 4.18 Crore rupees for the Telugu film industry.

The Restart Package Highlights

• 3 Months’ fixed electricity charges waived for theaters. For the months of April, May, and June, the fixed electricity charges for all theaters including multiplexes will be waived off.
• AP government to bear the charges of up to Rs 3 crore rupees regarding the same.
• Cabinet approval for the postponement of the next six-month fixed charges payments. 1100 theaters all over the state to be benefitted from this package.
• Working capital loans under the Restart Package. A and B Center theaters can get loans of Rs 10 lakh each and C-center theaters to get Rs 5 lakh loans.
• 6 Month moratorium on EMI payments. Government to bear 4.5 percent interest from next year.