Jaane Bhi Do Yaaro made in 1983 with a budget of 7 lakh rupees is on of the most famous cult movies in Hindi. Receiving little commercial success on release it went on to be a cult classic and is consistently rated as the best Hindi language movie ever on imdb. The movie is a dark satirical comedy about the rampant corruption in the Indian political system. The film stars Naseeruddin Shah,Ravi Vasvani , Satish Shah , Pankaj Kapoor, Bhakti Barve , Om Puri, was directed by Kundan Shah and was produced by NFDC . The most amazing feat of the movie is its ability to seamlessly merge slapstick with political commentary and satire. Some of the scenes such as the Mahabharata scene on stage and mixed telephone calls scene remain as some of the funniest sequences ever captured on film. The movie has a dark ending that takes a pessimistic view of the corrupt politician-industrialist-journalist nexus.

IMDB entry

http://us.imdb.com/title/tt0085743/