CM Telangana K Chandrasekhar Rao said that he has earlier studied as to how to get rid of the black money. Adressing a press conference here at the state Secretariat, he explained that he has in fact shared the same with the PM Modi. The political system should be cleaned up and the state must fund the elections he suggested. In December there will be Assembly session KCR announced.
Black money could be in many forms he said. It has to be completed in full form he stated. PM Modi also said that the black in any form would be eradicated at any cost and there is no doubt he said. What is that we have to do he questioned and said that the issue has been discussed thread bare. The states incomes will go down no doubt he said.
TS will have 75000 crore money in circulation KCR explained. More than 80 percent is from Rs 500 and Rs1000 notes KCR explained. The deposits are about 35000 crore in the state and their is dearth for funds he agreed. The interest of the farmers will be protected KCR assured. My new house is incomplete and I will host a dinner KCR assured the media.
Some issues will be there and they have to be sorted out he opined. It has to be done across the country he said. I have given in writing in detail to the PM , KCR stated. Most of our business is informal market KCR explained. But we dont purchase Bananas, vegetables and fish by way of Cheque he said.
The cash portion of Indian economy is just 12 percent he explained. There will be some problems to the state but we can tide over the crisis he said. There will be a severe impact of this demonetisation on real estate he opined. Lakhs of people are dependent on this he said.
The double bed room work will be taken up at a faster pace he assured. Mostly it will be a cashless society in the near future he stated. It will take some time he opined. Even all the labour are using cell phones he said. Only cash transactions can revive the economy of the state he explained. Transactions through banks will also help he opined.
The states should also help the centre in this process he said. Nothing to worry he assured. The Government is with you he assured the public. The task force at the state level will look into the matter he explained. Registration and excise department transactions should be done notes less and cash less he said.
All market yards must also function through banks he said. Fair price transactions also must do the swipe payments he suggested. Mobile banking and e-accounts must start functioning he said. Bank accounts should be opened he said.
More banks must come and operate in the sector and also in the state he opined. More ATMs are needed he said. The country must become cash less and we need around 10 crore swipe machines he stated. Mobile app is another way to do it he explained.
TS valet is coming soon he announced. The charges for the app users may be waived he said. One hour we spoke over the issue and also in the airport KCR revealed. We spoke only about demonetisation he stated. The centre must give all kinds of data to the states he suggested.
