Andhra Pradesh News

Andhra CM hails currency move, sceptical on Rs 2,000 notes

Andhra CM hails currency move, sceptical on Rs 2,000 notes

Vijayawada: Andhra Pradesh Chief Minister N Chandrababu Naidu tonight welcomed the Centre’s decision to ban currency notes of Rs 500 and Rs 1,000 values but expressed reservations over the move to introduce a bill of Rs 2,000 denomination.

“I welcome the Narendra Modi government’s historic decision to ban Rs 500 and Rs 1,000 notes. This is a bold step towards eliminating corruption,” he said.

It was also a major step forward towards wiping out black money, he said.

Complimenting the Prime Minister over the announcement, Chandrababu recalled that the Telugu Desam Party had been at the forefront in pushing for a ban on high-value currency notes.

This ban would change the face of Indian economy, he remarked.

The Chief Minister, who wrote a fresh letter to the Prime Minister last month seeking abolition of Rs 500 and Rs 1,000 currency notes, observed that re-introduction of Rs 500 notes and introduction of Rs 2000 notes needed elaborate discussions and alternatives should be looked into.

“The Centre needs to reassess the steps and tread with caution before introducing new denominations,” Chandrababu added.