With a spate of flops like Chandni Chowk To China And Tasveer, Bollywood has come face to face with the current economic down turn.

And Actors have apparently slashed their fees, with consideration for the downturn in Bollywood. Akshay Kumar, whose acting fees had reportedly hit a high of Rs 75 crore in 2008, has reduced his fees to around Rs 33 crore. So it seems even the Khiladi could not dodge the effects of an economy in recession.

“Yes, it is true that I have cut my acting fees. We all have to do that keeping today’s markets in mind,” Akshay said.

The recent two month face-off between producers and multiplex owners has already cost them Rs 100 crore and Rs 250 crore respectively. Add to it, the economic slowdown and producers are being forced to tighten their budgets. They have cut down on star prices, limited the hire of studio equipment, studio floors and even vanity vans.

Marketing films has also taken a hit. Kambakht Ishq, made at Rs 65 crore, went over budget as a result the plan to fly in the Hollywood talent used in the film including Sylvester Stallone has now been scrapped.

Lat year, films like Om Shanti Om and Ghajini were being picked up for unheard of prices ranging from Rs 60 crore – Rs 90 crore. However, the offers aren’t so readily coming in now.

Salman Khan and Ajay Devgan starrer London Dreams which was to be bought by the Indian Film Company for Rs 120 crore at one point of time is finding it difficult to fetch even Rs 80 crore now.

Akshay Kumar and Sanjay Dutt starrer Blue reportedly made at Rs 100 crore is still looking for a buyer. Even one of Bollywood’s most successful filmmakers. Rakesh Roshan is reportedly having trouble getting the Rs 100-crore price attached to the Hrithik Roshan-Barbara Mori starrer Kites.

In fact several productions in the pipeline have been affected by the current market scenario. While Big Pictures have scrapped their adventure drama Talisman starring Amitabh Bachchan, Eros has pushed the start date for their animation and special effects heavy futuristic film RA1 starring Shah Rukh Khan.