Note ban: Muddu Krishnama faults Centre

Hyderabad: While the ruling party in Andhra Pradesh was taking measures to encourage cashless transactions by taking inspiration from Prime Minister Narendra Modi, TDP MLC and senior leader Gali Muddu Krishnama Naidu took umbrage on demonetization decision.

Speaking to the media, Muddu Krishnama Nadu opined that instead of announcing various sops like latest one of 50 per cent tax and 85 per cent tax on unaccounted money, the Centre should have announced it would allow 60 per cent after taking 40 per cent share of black money, whoever came forward to announce their black money.

Commenting on online transactions, the TDP leader said India has at present only two per cent online transactions and the country has still 35 per cent illiterate population. How can an illiterate villager or a farmer can do bank transactions online, he asked and explained figures of online transactions in countries like Singapore where they were 61%, Netherlands 69%, Canada 57%, America 45% and Australia 35% and Japan only 14%. Undoubtedly, black money should be  curbed, but at the same time general public should not be put to hardships, Muddu Krishnama Naidu said.

The Centre, before keeping the announcement secret, should have taken opinion of experts. What would be the use of setting up a committee headed by Chief Minister N. Chandrababu Naidu, he questioned. -NSS

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