Malamaal Weekly is about the struggles and survival of people in a small town. Plagued by poverty, bad harvests and a monster of a moneylender called Karamkali, the people in this town are barely able to make ends meet.

Lilaram (Paresh Rawal) is one of the town's inhabitants who earns his daily bread by selling Malamaal Weekly lottery tickets.

But one fine day, whilst watching television Lilaram learns that one of his lottery tickets sold won the one million prize.

Since all the villagers do not own a television set, he keeps this news to himself with a plan to scoop the jackpot.

Lilaram throws a party but to gain entry to this festive ball, one must bring a lottery ticket which they have recently bought.

As luck would have it, all turn up except for one person by the name of Anthony. He happens to be the village drunkard. Lilaram decides to pay him a visit.

On reaching Anthony's house, he is shocked to find Anthony dead with the lottery ticket still in his hand!

What follows from then on is a roller coaster ride of laughter galore with surprising twists and turns to find who are the winners or losers.

And off course, no Bollywood comic caper is complete without a love angle. This comes in the form of Kanhaiya (Ritesh Deshmukh) who is deeply in love with Sukhmani (Rima Sen).