Malamaal Weekly is about the problems faced by the people in a small town, told through a humourous and comic story.
The people of the town are troubled by poor harvests and rising poverty. To add to their woes is a 'Shylock' of a moneylender called Karamkali,, who is also the 'Thakurayan'.
Lilaram (Paresh Rawal) is one of the town's inhabitants, who sells Malamaal Weekly Lottery Tickets. One day, he gets to know that one of the tickets he had sold has in fact won the One Crore Rupees Bumper Prize. As most of the other villagers don't own a TV and are illiterate, Lilaram knows that only he has access to this information. The question is how to find that one ticket from the 105 he's sold. An idea hits him!
Lilaram throws a party : a feast and a treat for the people who are fighting to survive. Lilaram, already debt-ridden, manages to host this party at the expense of his one last asset - his goat kid, who is treated like a child by Lilaram's wife!!
Now, the party is only for his 105 customers on the condition that they bring along their tickets as an invite to the celebrations. As luck would have it, all turn up except one-Anthony the drunkard. Lilaram decides to pay him a visit. On reaching Anthony's house, he finds Anthony dead in front of the TV, with the lottery ticket still in his hand!!! Anthony seems to have died from the shock of realising that he had won the bumper prize.
Thereafter there is a set of unusual events, which are funny and interesting. What happens next? Who ultimately gets the money?