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Did Cinema Industry Struggling After Banning 500 and 1000 rupee notes
Updated on : 13 November 2016

The government's decision to declare Rs. 500 and Rs. 1000 rupee notes has evoked positive response from economists and industrialists.





The decision to scrap Rs. 500 and Rs. 1,000 notes is very good to combat black money, said Justice (Retd) M.B. Shah, Chairman of SIT on blackmoney. Those holding untaxed assets, income despite opportunity to declare will suffer, he added.





The sudden ban on the old 500 and 1000 rupee notes had left the common people without usable money. Now the cinema industry too has landed into deep crisis due to the deficit supply of new currency.





Several theaters were seen unfilled even on holidays. Meanwhile, the shooting of the film too has been hit by this.





As the production company has no currency in 50 or 100 denominations, they cant pay the workers and artists. This has led to the shooting being suspended indefinitely. It seems that it will take some more weeks to get normal.





Meanwhile, an insider has said that the demonitisation of the currency has also led to the decrement in the salary of the lead actors.

 

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