Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday reiterated his demand for immediately abolishing currency notes of Rs 1000 and Rs 500 denominations to curb black money in the country. He has taken over the new Office at the Secretariat complex today in Velagapudi.
“Politics has become a shelter for corrupt people and black money earners. Some people who are in politics are misusing the peoples mandate. Im writing a letter to the Prime Minister today asking that Rs 1000 and Rs 500 notes be abolished and total bank transactions be encouraged,” he said at a press conference in his new office at Velagapudi.
The Chief Minister said once these currency notes are abolished, it would also put an end to buying of votes”.
“In course of time, we have to go for total bank accounts. We have to bring in that culture. One, you have to regulate and two, you have to bring in that culture. Then it will curb the evils,” Chandrababu said.
“A SMARTPHONE is enough to deal with everything. Be it shopping, travelling, money transaction or even if you have to spend money abroad, a smartphone is enough,” he said.
Referring to the Centres recent income disclosure scheme, the Chief Minister said an effort was made (to unearth black MONEY).
“Out of the Rs 65,000 crore disclosed across the country, Rs 13,000 crore was declared in Hyderabad and, out of it, Rs 10,000 crore by a single individual. Who is that, we cant know as per law. Is it possible for a businessman to declare such huge money,” he said.
“In the future, in 2-3 or 5 years, they will again regularise black money, depending on their need. You just pay 40-45 per cent penalty and the rest becomes white. Isnt that better ? Nobody can question. Now, there will no social stigma as well,” Chandrababu said.
