Demonetization has caused cash crunch all over India. The latest victims of this cash crunch are final year students of Film and Television Institute of India (FTII) located in Pune. The diploma film projects of these students are now under a cloud of uncertainty. One among the three diploma films of 2011 was scheduled to be shot in the month of November. However, it has been postponed to February 2017 due to the demonetization effect.
Amit Tyagi, Dean of Films, FTII indicated that the institute is not ready to postpone the schedule of the other two films. For this purpose, the institute will adopt online transactions and payments through cheques and will finish the films on time.
Each and every diploma film consist of a team which includes one student from editing, direction, art direction and sound design. The team will be given a grant of Rs. 1,00,000 which is used to make a film.
The administration supervises the money spent by the student to procure props and food, hire locations and arrange extras along with other miscellaneous expenses. Ranjith Nair, one of the final year students, expressed that the shooting of his film has been postponed to February 2017. There was no other option except to delay the shoot due to a cash crunch.
HRD Minister Prakash Javadekar advised all the higher educational institutions to adopt online transactions instead of making payments by cash. The institutions of higher learning must lay more emphasis to a digital platform.