The ban of high denomination notes is shaking the cinema industry in Telugu states . Theaters in the Telugu states registered low footfalls in the theaters as films are considered to be luxury goods , which is avoided in crucial situations.
Theaters were deserted and just 10% collections registered in Vishakapatnam and other regions also registered low figures. The lack of 100 rupee notes and ban of high denomination notes led to this situation.
On the other hand, the Telugu Producer council unwelcomed this movie as the cinema industry will deal with cash transactions and says this would reflect on Heroes remunerations , which mostly goes in cash deals.
Buzz that, Some Heroes who charging in crores take their remunerations in form of Cheque and cash, They wish to take 30% – 40% in form of cheque which is Taxable income and the rest in cash. The center’s move will hit their earnings to the core.