Ravi Shankar Prasad Dismisses Economic Slowdown in India, Quotes 3 Movies' Earning of Rs 120 Crore on Oct 2 to Back His Claims; Watch Video
Union Minister Ravi Shankar Prasad, economic crisis and a cinema theatre. (Photo Credit: File Image)

New Delhi, October 12: Amid the prevailing economic crisis gripping the country, Union Minister of Law and Justice Ravi Shankar Prasad dismissed the reports of slowdown stating that economy of India is sound as film industry minted Rs 120 Crore on a single day. He cited the big business made by movies in a single day to sustain his claims and tried to trash the reports of economic crisis.

Addressing a press conference in the financial capital, Prasad cited the film critic Komal Nahta comment and said, "Film trade analyst Komal Nahta told that the day saw earning of over Rs 120 crores, a record by 3 movies. The economy of the country is sound, that is why there is a return of Rs 120 cr in a day." PVR, Other Movie Theatre Firms Mint Money as People Head to Cinema Halls to 'Escape Slowdown'.

Here's the ANI video:

Elaborating more to sustain his statement, he said, "Three movies were released on October 2. Film critic Komal Nahta told me that the national holiday of October 2 saw an earning of over Rs 120 crore – War, Joker and Sye Raa (Narasimha Reddy). It’s only because the economy is sound that movies can fetch a return of Rs 120 crore in a single day."

The Union Minister claimed that the National Sample Survey Organisation’s report on unemployment data was false. He said, as the Scroll reports, "I say the report is false, with full responsibility. I gave you 10 numbers (on the economy). None of these numbers is found in their report. Electronic manufacturing, IT sector, Mudra loan scheme...we had never said that everyone will get a government job. Some people had deliberately tried to mislead the public."

Earlier PVR claims that the condition of the entertainment industry -- especially cinema -- has been on a brisk even though the economic slowdown has created a tensed situation in the market. Chief Executive Officer at PVR Pictures Kamal Gianchandani said, as reported by NDTV Profit, "I think the slowdown is helping the cinema business." Hrithik Roshan and Tiger Shroff's War Crosses The Rs 300 Crore Mark - Deets here.

Meanwhile, Hrithik Roshan and Tiger Shroff's starrer War had minted gross box office total of Rs 320 crore worldwide within nine days of its stay at the theatres. It has managed to score the highest-grossing first-week collection worldwide in Hindi in 2019.