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Indian budget “completely ignores” live events

The Indian government failed to implement any asked-for measures in the 2021–22 Union Budget, which does nothing to stop the "bleeding" in the live sector, says EEMA

By IQ on 05 Feb 2021

Indian minister of finance Nirmala Sitharaman

image © DoD Photo by Tech Sgt. Vernon Young Jr.

Industry association EEMA has sharply criticised the Indian government for making no provisions in its most recent budget for the live entertainment sector, which has been devastated by the series of lockdowns and ‘unlocks’ imposed on the country since last March.

The 2021–22 Union Budget, presented to the Indian parliament by finance minister Nirmala Sitharaman earlier this week, “completely ignores” the events sector, as well as hospitality, tourism and other related industries, according to Siddhartha Chaturvedi, general secretary of the Events and Entertainment Management Association.

While cinemas are permitted to reopen at 100% capacity from 1 February under so-called ‘unlock 9.0’ guidelines (ie the ninth easing of lockdown), the live events sector has had “almost nil revenue” since the first lockdown came into effect” in March 2020, said the EEMA in a letter sent to Sitharaman (pictured) last month asking for relief for the industry.

The association had asked for wage subsidies, tax relief/refunds, free venue hire and interest-free loans, among other measures, to be included in the budget.

“We were really expecting some SOS measures for our industry in particular”

Chaturvedi says the industry has been left bitterly disappointed by the lack of support for what he describes an industry that is still “bleeding” money. “The budget has been extremely disappointing for us in events. The government has completely ignored this bleeding sector, and so is the case of the entire hospitality, tourism and aviation sectors, which are all related to each other,” he comments. “We were really looking forward to a helping hand from the government in these dire times.”

While the budget shows the government’s intent to “spend a lot to infuse economic activities”, EEMA was “really expecting some SOS measures for our industry in particular, and are extremely disappointed with this lack of empathy towards us.”

“The budget largely seems progressive for the economy,” adds Samit Garg, the association’s executive vice-president. “However, there is unfortunately nothing in there for our events and experiential industry. The only silver lining is the increased government expenditure, which may yield more business opportunities for us.”

EEMA represents more than 1,000 companies, including artist managers, talent agents, event organisers and event management companies.

 


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