In the peak season for artistes and event managers, the only thing ‘peaking’ is anxiety about payments, now that cash is scarce.
AS INDIA TRIES to make sense of the demonetisation of high-value notes , stakeholders of the event industry are still trying to assess the magnitude of its implication.
When it comes to listing cash rich industries, the event industry is clearly a front-runner. Be it vendors, artists, décor companies or event planners, the flourishing industry has developed deep pockets for all. Ironically people are left with no money to keep in them. With the ban of Rs 500 and Rs 1000 bills, the industry, and more specifically the wedding industry, is left quaking in its boots.
This development may just take the ‘Big’ and ‘Fat’ out of the Indian wedding context. While the new Rs 500 and Rs 2000 bills should soon bring some stability to the situation, for now people are left asking the question – “What to do with all the cash in circulation over the last three decades?”
Leading Indian DJ, Khushi, says, “Artistes largely receive their payment in cash. While I declare my income, I know that most do not. This is supposed to be peak season for artists and the only thing peaking since the announcement has been anxiety. It may be too early to comment on the extent of the repercussions. Its now only a matter of time for the full blown effects to manifest.”
هذه القصة مأخوذة من طبعة November 28, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة November 28, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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