After Indian Prime Minister Narendra Modi announced that Rs 500 and Rs 1000 notes will be discontinued with immediate effect, many Tollywood filmmakers have been left in deep shock. This will sure have a huge impact on many upcoming movies that are slated for release soon. When asked many filmmakers responded positively about Modi’s decision. They revealed all the future transactions will be tracked and will be official.
A leading producer from Tollywood spoke to Telugu360 saying “It was in the past, huge amounts of black money was invested in films. Nowadays none of the actors and directors are accepting money in black. All the transactions are now legal and pure. Though if a renowned producer gets an opportunity to give a percentage of the amount through his black money, it is not possible. Hence this is a huge step by our Prime Minister Modi”.
However the fact is that there has been lot of black money that is being invested in films after being re-directed from real estate. Some of the filmmakers are quite tensed because of the current situation. Tollywood will sure take some time to digest the situation. We have to wait and see how the upcoming releases in the coming months will have an impact because of the currency discontinuation.
