Securing Creativity: India's Cinematograph Bill 2023

Tuesday, August 1st, 2023

Good Evening☕

Ladies and gentlemen, film fanatics and popcorn enthusiasts, hold on to your seats, because the curtains are about to rise on a spectacular show of legislative excitement! Picture this: the Rajya Sabha in India, abuzz with anticipation, has just given its nod of approval to a bill that's all set to revolutionize the way we watch movies.

Yes, you heard it right – we're talking about the one and only Cinematograph Act, 1952, getting a fabulous makeover, just like our beloved movie stars! Lights, camera, action – the show must go on, and it's going to be a blockbuster like never before! 🎬

Important News of the Day

1. Cinematograph (Amendment) Bill, 2023 passed by Parliament

The Cinematograph (Amendment) Bill, 2023 has been passed by the Rajya Sabha in India. The bill amends the Cinematograph Act, 1952, which constitutes the Board of Film Certification for certifying films for exhibition. The new provisions aim to tackle film piracy and overhaul age-based certification. The bill proposes to introduce new sections in the Cinematograph Act with provisions to prohibit the unauthorized recording of films. The bill intends to ensure that the film industry content does not suffer due to piracy as the menace causes heavy loss to the industry.

2. Guidelines on women safety in higher education institutions in place

The University Grants Commission (UGC) has developed guidelines for basic facilities and amenities to ensure a safe and secure environment for women in higher education institutions (HEIs). The guidelines include provisions for sensitization, policy implementation, monitoring, and grievance redressal. The HEIs are required to ensure easy access to basic sanitation and hygiene facilities for women, such as clean, well-maintained, and fully functioning separate restrooms equipped with proper sanitary staff deployed to keep the facilities clean and usable at all times. However, there is no proposal under consideration in the Ministry of Education to ensure menstrual benefit leave in educational institutions.

3. Indian economy witnesses significant surge in gross fixed capital formation: Pankaj Chaudhary

According to Indian Minister of State for Finance Pankaj Chaudhary, India's gross fixed capital formation (GFCF) has seen a significant surge. Gross fixed capital formation reflects investment and rose 8.9% in the January-March quarter and 11.4% for the full financial year 2022-23. This increase in investment is expected to power India's economy in the current financial year, as the government pushes ahead with massive capital expenditure plans. The surge in GFCF growth is at a 10-year high in constant price terms. Despite some signs of moderation in growth, India's growth remains robust and is estimated to be 6.9% for the full year.

4. GST Council should discuss burden on small businesses, tax frauds: Amit Mitra

West Bengal Finance Minister, Amit Mitra, has urged the GST Council to discuss the burden on small businesses and tax frauds. Mitra has also called for a reduction in the GST rate, stating that it should be neither too low nor too high. The GST Council meeting has been convened to discuss issues related to micro, small, and medium enterprises, and a rate cut. Mitra has previously expressed his concerns about the GST, stating that it is difficult to accept in its current form and that it is more primitive than VAT.

5. Nine states witness increased coal production during 2022-23: Pralhad Joshi

Nine states in India have witnessed an increase in coal production during 2022-23, according to Union Coal Minister Pralhad Joshi. The rise in domestic coal production will reduce the country's dependence on imported coal and eliminate non-essential imports. The states that have seen an increase in coal production are Assam, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana, Uttar Pradesh, and West Bengal. The government has also approved a policy for the systematic and environmentally friendly use of de-coaled land. Efforts have been made to push for sustainable mining by balancing environmental concerns with economic growth.

Entrepreneur of the Day👨‍💼

Lo! Foods is a Bangalore-based FMCG startup founded in 2019, with a mission to make a positive impact on the lives of India's diabetic population. The company specializes in manufacturing a wide range of healthy Indian snacks, offering the largest selection of low-carb and keto-friendly packaged foods in the country. Sudarshan Gangrade, the founder of Lo! Foods, is a seasoned serial entrepreneur with a background in growth, marketing, and analytics, and he has played a significant role in India's e-commerce ecosystem.

The idea behind Lo! Foods stemmed from Sudarshan's genuine concern for people struggling to lose weight and be fit. After witnessing the challenges faced by those trying to lose weight and combat obesity, he realized the need for providing healthier yet delicious alternatives to traditional snacks. This led him to create a diverse range of products that cater to health-conscious consumers while retaining the authentic taste of Indian snacks.

To fuel its growth and product development, Lo! Foods secured funding from various angel investors, including Anuj Golecha, Raveen Sastry, Rashmi Daga, and others. Their seed funding and subsequent investment rounds have supported the company's expansion and enabled it to attract a loyal customer base. With a mission to reduce the incidence of diabetes and cardiac-related diseases in India, Lo! Foods aims to achieve significant positive health outcomes by encouraging reduced carbohydrate consumption and promoting healthier lifestyle choices.

Through intensive collaboration between food technologists and nutritionists, Lo! Foods successfully developed its line of healthy Indian snacks, differentiating itself from competitors like Britannia and Nilgiris. The company's rapid growth and dedication to providing tasty yet health-conscious options have resonated with consumers, making it a key player in the thriving Indian health and wellness food market.

Breaking News: The Scoop You Can't Miss!

1. UPI to enter North America, other Middle-Eastern countries soon

National Payments Corporation of India (NPCI) subsidiary NIPL is planning to expand its Unified Payments Interface (UPI) service to North America and other Middle Eastern countries in the coming months, according to CEO Ritesh Shukla. NIPL has already launched UPI in Singapore and France. The move comes as the US strengthens its cooperation with Middle Eastern partners to address 21st-century challenges, including food and energy security, and the climate crisis.

2. Core sector growth jumps 5-month high to 8.2% in June

India's core sector growth rose to an 8-month high of 8.2% in June, according to government data. This growth rate is higher than the 6.7% expansion rate of China in the same quarter. The data suggests that India's economy is recovering from the impact of the COVID-19 pandemic. The growth was driven by a surge in the production of steel, electricity, and cement. This news comes after India's annual economic growth surged to a more than two-year high of 8.2% in the three months through June, giving Prime Minister Narendra Modi's government a political boost in the final year of his term before elections.

3. At 4.51 lakh crore in June quarter, India's fiscal deficit at 25% of FY24 target

India's fiscal deficit for the April-June quarter of 2023-24 reached Rs 4.51 lakh crore, which is 25.3% of the annual target. This indicates that the government's spending exceeded its revenue during this period. The fiscal deficit is an important indicator of a country's financial health and can impact various aspects of the economy. It will be crucial for the government to manage and control the fiscal deficit to ensure sustainable economic growth.

4. ED attaches property of Lalu Prasad Yadav's family in land for jobs scam

The Enforcement Directorate (ED) has attached assets worth Rs 6 crore linked to Lalu Yadav's family in the land-for-job scam. The alleged scam pertains to the period when Lalu Prasad was the railway minister in the UPA-1 government. Lalu Prasad Yadav, his wife and former CM Rabri Yadav, their daughters Misa Yadav and Hema Yadav, besides some undeserving candidates, who were given jobs in exchange for land at a throwaway price, have been named as accused by the CBI in the FIR. The CBI found seven instances where jobs were allegedly given to candidates when their family members transferred lands to Lalu Prasad Yadav’s family.

5. Indian sugar mills poised for stable profits despite market volatility: Report

Indian sugar mills are expected to have stable profits despite market volatility, according to CRISIL Ratings. This is attributed to higher domestic sugar prices and an increase in ethanol sales. The ratings agency highlights the improvement in the business risk profile of sugar mills, resulting in healthy profitability and cash accrual. However, CRISIL also predicts that lower exports will dilute the profitability of Indian sugar mills in the current fiscal year. Overall, the outlook for Indian sugar mills' operating profitability remains positive, driven by various factors such as domestic sugar prices and ethanol sales.

World News 🌎

• Chinese eatery forced to shut after viral video of male waiters feeding women mouth to mouth emerges

• Donald Trump's PAC set to reveal legal expenses surpassing $40 million: Report

• ‘Culprits will be penalised’ Pakistan PM Shehbaz Sharif on Bajaur bomb blast

• Russia-Ukraine crisis grows more intense, fierce fighting reported

• Denmark to choose ‘legal option’ to stop Quran burnings

• West Africa warns of military action against Niger coup leaders

• Wildfire ‘Eagle Bluff’ crosses over from US into Canada, evacuation order issued for Osoyoos town

• Saudi Arabia to host Ukrainian peace talks in August, India among top invitees

• Harry, Meghan planning to move back to UK

• Burger King: Prince William serves burgers from food truck to surprised customers

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