J&K Govt Creates Rs 500cr Film Development Fund For 5 Years ( Photo Credit – IANS )

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The Jammu and Kashmir government has created Film Development Fund (FDF) in the Information department for the fiscal year 2022-23, for the disbursement of subsidies envisaged in the J&K Film Policy 2021.

To effectively implement the ambitious J&K Film policy, the government last year allocated Rs 500 crore to be payable in the next five years for financially supporting the development of a vibrant film ecosystem in Jammu and Kashmir. This policy is valid for five years from the date of notification.

According to the Film Policy, “starting from fiscal year 2022-23, a separate head of account shall be created as Film Development Fund, in the Information Department and an annual budgetary allocation of Rs. 100 crore for the remainder term of the Film Policy shall be made by the Finance Department for disbursement of subsidies to the eligible beneficiaries/film-makers who have applied for the same”.

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