KCRa��s Support to Modi For 50 Days

Hyderabad:A�Extending full support to the Centre on its decision to demonetize big currency notes, Chief Minister K Chandrasekhar RaoA�made it clear that the State would fight against the Centre in case the post-demonetization situation remained unchanged even after 50 days as assured by Prime Minister Narendra Modi. KCR made it clear that he has no personal interest in extending support to the Centre on its decision of demonetization of big notes.

Replying to a short discussion on a�?demonetization of high denomination currency notes and its impact on the State economya�� in the Legislative Assembly, the Chief Minister admitted that there was an impact on the State economy due to demonetization of big currency notes. a�?The impact is not that much on the State as feared by us. There was slight decrease in revenue through land registrations but there was no impact on the excise revenue,a�? he said.

The Chief Minister said the revenue of the State and Centre will definitely increase if the country transforms into cashless economy. Every person, who has black money, has to pay taxes without fail if the cashless economy becomes a success. a�?We have to wait and see what will happen after 50 daysa�?, he said reminding Bihar Chief Minister Nitish Kumara��s statement that he will question the Prime Minister after 50 days if the problems of the people continued in the same manner. He also said it was not proper to anyone to create fear psychosis among the people.

Making it clear that we have to transform the State as cashlessA�society, he said the State stood at the top in cashless economy because the 6 percent transactions of total transaction in the State were already going on through cashless mode due to IT people. The demonetization of big notes issue belongs to the Centre, he said, adding that one has to welcome the decision if it changes the nation for the better. The Centre has taken the decision and it will not go back on it and the States have to follow it come what may.

Stating that the Prime Minister has all the information about the troubles being faced by the people, KCR said the situation has changed and one has to adopt it as early as possible. Agreeing with the Opposition leaders that 100 percent cashless economy was not possible, KCR said he urged the Prime Minister to strive for the total clean up and Modi assured that demonetization of big currency notes was part of such an exercise.

KCR said that the PM also has a plan to curb political corruption and it was possible only with the cashless economy. KCR said, a�?I advised the Prime Minister to allocate State funds to the candidates contesting elections. Prime Minister accepted my advise immediatelya�?, he said. The nation needs 10 crore swipe machines, he said. He also said the people have deposited Rs 57,479 crore in the State and the State received Rs 19,109 crore of currency from the RBI.

The Chief Minister said the State government would conduct awareness programs afterA�December 31A�on cashless economy with the help of students. He urged the educated, intellectuals and others to extend their cooperation in this regard. The State government has to implement the cashless economy to see that the government would not lose revenue. He said cashless economy was successful in Ibrahimpur village in Siddipet constituency. The government was striving to transform the Siddipet constituency into a cashless economy constituency, he said. The government will also take T-Wallet to the people as soon as possible.


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