Dark Secret: Tollywood To Lose 1000 Crores!

PM Narendra Modi’s decision to devalue high currency notes is a rude and unexpected shock to film industry. To all our knowledge, cinema field is one area where top politicians, corporate companies and real estate businessmen invest their black money to reap high interest rate recovery and also enjoy the glamour up and down.

Now that all your stocked up 500 and 1000 notes have to come out for exchange program with new 2000 and 500 currency notes through banks, every one right from financiers to producers and distributors are annoyed on what would be their future if such unaccounted money is bought out? At the same time, heroes and heroines who made huge money depending upon their contacts and craze are also shaken. An inner film buzz says, nearly Rs.1000 Crores alone from a group of influential Telugu film personalities is on the verge of getting useless. 

This is just a part of speculation and the number can be far high than this. Of course, none of these black money holders will come out in public to reveal their pity condition. So, everything lies in dark. In turn, the effect would be felt on daily wage labor dependent on industry. 

A considerable downsizing of film activity is expected in coming 6 months, may it be cancellation of shooting schedules or postponing the release dates or shelving those in early production, pre production stages. Meanwhile, these producers and buyers are running to their auditors to check an alternate way out escaping from this imbroglio.