Chief Minister of Telangana K Chandrasekhar Rao who talked to the PM Modi over phone has been asked to come to Delhi and wait for the PMO call. Following the note ban, CM has said that he has got a strategy to tide over the crisisi. The PM who asked KCR to be in Delhi also suggested that he should give the details in writing. KCR would be in Delhi for 2 days and it can be extended also the parliament is in session. He will talk to his MPs over the strategy to be adapted in the Parliament it is reported.
“The CM is of the view that the PM will hold a meeting with CMs of all the states after the winter session of Parliament and discuss the implications of demonetisation on states’ revenues. KCR believes that the PM will assure all CMs that the Centre will pay adequate compensation to bail out the states from financial crisis,” sources said.
However, doubts are being raised in some quarters over the claims being made by the CM since economic experts like former RBI governor Duvvuri Subbarao are opposing any move by Centre to treat currency that is not surrendered during demonetisation as profit and transfer to Centre. “If this is done, demonetisation will be viewed as being done with other motives, rather than fighting black money,” Mr Subbarao opined.
Chief Minister K. Chandrasekhar Rao, who has been reviewing the impact of demonetisation on the state’s revenue every day with ministers and senior officials, is learnt to be informing them that he has clear indications from the Centre that it would distribute the cash accrued to it through demonetisation among all states in the ratio of at least 42 per cent. It is for this reason that the CM has been staying away from agitation programmes being taken up by some Opposition parties over demonetisation.
The CM believes that the Centre would get around Rs 10 lakh-crore in deposits since nearly Rs 4 lakh-crore deposits have been made in the past 10 days. Besides, he believes that another Rs 5 lakh-crore in black money will not be deposited with banks fearing penalties and cases.
Mr Rao is learnt to have hinted in meetings with ministers and officials that he has information from well-placed sources that the Centre will ask the RBI to print new currency notes for the amount not deposited with banks and transfer the same to the account of the Central government.
