Modi Government scrapping Rs. 500 and Rs. 1000 notes is going to be a headache for Telugu film industry in many ways.
First of all it will affect the business of forthcoming releases as common man will think twice to spend his ‘precious’ money on movies at the moment. As there is a limit on the cash withdrawals, people would be spending money very carefully for a few weeks.
This might affect the new releases across single screens due to the lack of online booking service. Business in Multiplexes may not be affected as most of the transactions are done online.
Naga Chaitanya’s long pending Sahasam Swasaga Sagipo and Allari Naresh’s horror comedy Intlo Deyyam Nakem Bhayam are releasing in this weekend.
Besides this, money inflow from financiers into film industry will be tough for a while due to the scrapping of higher denomination notes.
Financiers usually deal in cash and therefore it would put a check on such transactions which would hamper the progress of many low budget films that are currently under production. So it is going to be tough days for Tollywood ahead.
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