Sunday, January 8, 2012
Someone asked me the other day , when I remarked that during their heydays actors of the 60s were quite reasonably paid , those who had invested wisely are till today comfortable and those who frittered away their hard earned money are facing tough times.
My friend remarked that at his peak in the mid 1960s Sivaji is reputed to have charged a 1,00,000 or maybe a 1.5 lakhs , whereas today's Heros are all charging several crores - this set me thinking on who will have the greater earning Potential ?
Though the Title suggests the names of two leading actors, these observations are general. When I went through a historical record of the average Gold price for 10 gms of Gold in India , Yearwise I was quite surprised - Just for information , the data is as below.
In 1932 , the Year my father was born it was - Rs 23 per 10 gms ( average price)
In 1956 , when I was born it was - Rs 91
Whereas the price in the 60s ranged from Rs112 In 1960 and it rose to Rs 175 and in 1969.
Let us average it as Rs 150 for the 1960s and the quantum of Gold a Top hero could have bought from a Picture's earnings would have been 1000 , 10 gm coins - assuming 1.5 lakhs as his income.
The 2011 average Gold price is given at Rs 26, 400. ( 2006 . -Rs . 8,400 , 2007 - Rs.10,800 , 2009 - Rs.14,500 and 2010 - Rs.18,500 ).......To Buy 1000 coins of 10 gms , we will have to spend Rs 2.64 Crores now, or 1.45 crores in 2009. This is surely much more than what a top hero gets paid..... Does it mean that Today's stars are getting more ?
The answer is far different if we do some Historical analysis - I have heard that The Bungalow in Boag Road , as it was then called was Purchased for a Cost of One Picture's earnings. At a modest estimate of Rs 4 Crores per Ground (2,400 sq feet) , todays hero will have to shell out More than 60 Crores to acquire such a Property , if available.....Here I am not sure of the price as a single plot can probably fetch more too. I cannot think of any Hero making that kind of Money in Indian Cinema Today in one Film. (Unless he is Producing it as well.)
In the 1960s my father was offered a ground at about Rs 2,500 in Poes garden , When Anna Nagar was formed the price of a ground was even less in the late 1960s and early 1970s , so I think when we compare the Real estate Value of Money , The yester year Heros do fare far better.
Now for the Sting in the Tail - Please remember that In the 1960s , 70s and even 80s for all those declaring a net Income of over 6 figures , the Income Tax Rate was 90 plus percent.....Compare it with the Highest tax slab today....what does it reveal ???
That those who invested wisely , and let the real Estate Holdings just appreciate are far better off ?
I am just as confused at the end of this piece as I was at the beginning.....
Whatever be the amount they earned - Those legends left a telling mark because of their Competence and professionalism , as well as their concern for Society. It is my Prayer that we follow all the Good things they stood for and eschew that which we find bad.
Posted by MOHAN V.RAMAN at 6:08 AM