WENN
The film, about farmer suicides in India, will be the Ghajini star's fourth Academy Awards entry.
He was nominated in the Best Foreign Language Film category for his producing debut Lagaan in 2001.
The Film Federation of India has since also submitted Rang de Basanti and his directorial debutTaare Zameen Par.
Peepli Live, which stars relative unknowns, has already scored success on the international film circuit, with appearances at this year's Sundance Film Festival and the Berlin Film Festival.
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