The City of Dreams, Mumbai, has recently welcomed a new gem in its cultural crown – the National Museum of Indian Cinema (NMIC). Noteworthy as India’s first museum solely dedicated to the evolution and celebration of the Indian film industry, NMIC aims to be more than just a repository of cinematic information for the layman.
The Museum at a Glance
Situated within the confines of a 19th-century heritage bungalow known as Gulshan Mahal, the museum also boasts a new state-of-the-art building constructed specifically for this purpose. Spanning across four exhibition halls, the museum offers visitors a glimpse into the various facets of Bollywood. Be it understanding the connection between Mahatma Gandhi and cinema, unveiling the symbiosis between technology and creativity, exploring the diverse cinematic representation of India, or immersing oneself within the intriguing world of children’s film studios.
India’s cinematic journey is highlighted in the museum showcasing landmarks like “Raja Harishchandra” which was the first silent feature film in India made by Dadasaheb Phalke in 1913 and “Alam Ara”, the first sound feature film by Ardeshir Irani in 1931.
Pradhan Mantri Rojgar Protsahan Yojana: A Milestone in Employment Generation
One of the Central Government’s endeavors to bolster employment in India, the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY), reached one crore beneficiaries in January 2019. This scheme, launched on August 07, 2016, encourages employers to create new employment opportunities.
Benefits of PMRPY
Distinct features of this scheme include the provision for the Government to bear the entire 12% employer’s contribution towards Employees’ Provident Fund and Employees’ Pension Scheme for new employment with a salary up to Rs. 15,000 per month. The process is streamlined through an online AADHAAR-based system to ensure transparency and efficiency with minimal human intervention.
| Milestone | Features |
|---|---|
| PMRPY scheme crosses one crore beneficiaries in January 2019 | Government pays full 12% of employer’s contribution |
| Launched on August 07, 2016 | Targeting new employment with salary up to Rs.15000/month |
Demystifying Angel Tax: A Startup Dilemma
In recent times, the term “Angel Tax” has taken the Indian startup ecosystem by storm, leading the Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce and Industry, to issue clarifications. Essentially, angel tax is the income tax levied on capital raised by unlisted companies or startups via issue of shares, over and above their fair market value. Many startups have received notices from tax authorities to pay their dues under the angel tax.
The tax was originally introduced in the Union’s Budget of 2012 to prevent laundering of funds under the guise of angel investments. Despite its original intention, the tax’s application has led to controversies due to differing interpretations of “fair market value”, leaving startups vulnerable to unduly high taxes. Notably, only the portion of investment considered above the “fair value” is subject to this tax.