The Goa government would spend around Rs 18 crore on hosting next month's International Film Festival of India (IFFI) here, an office-bearer said on Wednesday.

Of the total budget, Rs 5.5 crore would be raised through sponsorships to reduce the financial burden on the government, he said.

The state government, along with Union Information and Broadcasting Ministry, has been hosting IFFI in the state since 2004. The 50th edition of the festival would be held between November 20 and 28 in Panaji.

"The estimated budget for the festival this time is around Rs 18 crore, of which Rs 5.5 crore would be raised through sponsorships," Subhash Faldesai, vice-chairman of the state-run Entertainment Society of Goa (ESG), told PTI.

"We are trying to reduce the burden on the state government by roping in various sponsors for hosting the event," he added.

Faldesai said the entire content of the festival has been curated keeping in mind the requirement of the film lovers, critics and the local talent.

"This would be the most memorable edition of IFFI. There is a lot of scope for Goan talent and filmmakers. There will be a special section where locals, especially students of fine arts colleges, would be given a platform to showcase their talent. ESG would also be financing them for the project," he said.

Faldesai said this is the first IFFI edition to be held after the death of former Goa Chief Minister Manohar Parrikar earlier this year.

"Current CM Dr Pramod Sawant has acted as a major facilitator for the event by clearing all the files in time," the office-bearer said.

The event would provide a boost to the state's economy as more than 10,000-12,000 delegates are expected to take part in it, he said.