Huge Impact on Indian Cinema because of Currency BanBollywood News

November 09, 2016 18:50
Huge Impact on Indian Cinema because of Currency Ban

Indian Prime Minister Narendra Modi came up with a bold decision of banning Rs 500 and Rs 1000 notes which has been widely lauded across the country. Though it affected the life of a common man, this will sure help to curb the blackmoney across the country. However this will have a huge impact on the Indian cinema as most of the transactions have been unaccounted. Film business is completely unorganised and financiers play a key role in the major transactions.

With the notes banned, the government will keep a track for all the huge transactions across the country in the coming future. This will sure have a huge impact on cinema and taxes are to be paid for all the money spent and earned. Even the actors, directors who are paid massive remunerations need to show a clean account which is not being done. It is not possible to make cashless transactions and all the bulk transactions will be tracked by the government.

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Indian Cinema