Union Minister Ravi Shankar Prasad was quoting Komal Nahta when he made the statement about the earnings of three movies in a single day.

A day after Union Minister Ravi Shankar Prasad cited the earnings of three blockbuster movies to dismiss the economic slowdown, Bollywood films trade analyst Komal Nahta said that the film industry does not actually contribute much to the Indian economy.

Addressing a press conference on Saturday, Ravi Shankar Prasad said three movies earned close to Rs 120 crore on a national holiday and added that only a country that has a sound economy earns this amount in a single day.

Incidentally, Ravi Shankar Prasad was quoting Komal Nahta when he made the statement about the earnings of three movies in a single day.

Speaking exclusively with India Today TV, Komal Nahta said the union minister was correct about the earnings and it was the first time the film industry earned Rs 120 crore in a single day.

"Factually, Ravi Shankar Prasad is correct. It was the first time ever that the film industry has earned over Rs 120 crore in a single day. Earlier it was Bahubali 2 which had earned around Rs 112 crore in a single day," he said.

On being asked about the Bollywood films' contribution to the economy, Komal Nahta said, "The film industry and Bollywood both contribute very minimal like minuscule level to the economy. One or two per cent may be! The film industry is very glamorous their figures of business are always out in public, therefore, it is just an attraction."

"The film industry does not actually contribute a lot to the economic," Komal Nahta said.

Komal Nahta also said that Ravi Shankar Prasad's statement may have been blown out of proportion by the media.