The Oscar hysteria is growing as the greatest movie event of the year is on the verge of beginning as we speak. After sweeping nearly all the pre-Oscar awards, “Slumdog” seems on the fast track to winning the big prize on Feb. 22.

By all accounts, "Slumdog Millionaire," with its 10 nominations, is set to sweep the Oscars this year. In fact, it's the front-runner to win best picture, which would make it the first film with a significant foreign language component to take the title.

“Slumdog,” made in India with a predominant Indian cast and technicians, has increased Bollywood's ability to attract powerful Hollywood A-listers including Sylvester Stallone to Pierce Brosnan and Mickey Rourke, said a report.

On the other hand, after the award for best picture went to Scorsese's gangster epic, "The Departed," in 2007 and the Coen brothers' brilliantly suspenseful "No Country For Old Men" last year, one of the front-runners for this year's star prize is "The Curious Case of Benjamin Button" as well. Based on F. Scott Fitzgerald's 1921 short story of the same name, "Button" does not disguise that its intentions are to leave no dry eye in the theater.

While in Fitzgerald's story, Benjamin becomes bored with his aging wife and leaves her to spend many nights alone, Fincher's Benjamin only leaves so as not to be a burden on her as he grows younger. In case you’ve been living under a rock, the leading part is played by none other than Brad Pitt.

Nevertheless one big factor in the Oscar bounce's evaporation has less to do with the Oscars and more to do with the marketplace. January and early February used to be a dumping ground for mainstream movies. "Slumdog" is really the only movie that you could convincingly argue has been aided by award season, though it has also benefited from Fox Searchlight's shrewd ad campaign.

While being embraced by most, some critics and viewers have derided the "Slumdog"  “fairy tale” for its artifice that sentimentalizes poverty and the appalling abuse of children in Mumbai, India. But can this backlash topple such a heavy favorite? There really isn’t another contender with the legs to catch up: “Benjamin Button” and “Frost/Nixon” earned mixed reviews and few critics’ prizes; “The Reader” is a downer that also, despite an aggressive awards publicity campaign, hasn’t impressed the critics. “Milk” is a personal favorite for many, but the well-received film oddly hasn’t had much traction since its release. In a nutshell, Danny Boyle's “Slumdog Millionaire” has all the chances in the world to be this year’s absolute star.