Final answer:
The Indian Film Finance Corporation was established in the 1960s to promote the growth of Indian cinema by providing financial support to filmmakers, thus fostering cultural expression and aiding in modernization.
Step-by-step explanation:
In the 1960s, the Indian government founded the Indian Film Finance Corporation (FFC) with the aim to foster the growth of Indian cinema. The FFC was created as part of the Indian government's efforts towards modernization and promoting cultural expression. It provided financial support to filmmakers, thereby encouraging the production of films that aligned with the country's social and cultural aspirations. Furthermore, it played a pivotal role in shaping the landscape of Indian cinema by offering funds for innovative and meaningful cinema, which may not have been commercially viable otherwise. This initiative reflected the government's recognition of the film industry's potential to influence society and contribute to the nation's dialogue on important issues.