MUMBAI -- Bollywood, known for movies full of fantastical extravagance, is trying to adjust to a harsh dose of financial reality.
The global economic downturn has dried up funding, and movie makers are dropping projects and slashing budgets. About 30% fewer of India's song and dance films will be made this year, bringing the total down to around 700, said Rakesh Jariwala, a Mumbai-based analyst at Ernst & Young.
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