Big note ban curbs State income: KTR

Big note ban curbs State income: KTR

Ostensibly echoing his father and Chief Minister K Chandrasekhar Rao’s voice,  Municipal Administration and Industries Minister KT Rama Rao today expressed dismay at the scrapping of old notes of Rs 500 and Rs 1000 denomination by the Centre across the country. Reason is that the income from various departments to the government has come down drastically.

Though the ban on the old notes fetched better income to the GHMC and Water Board through taxes, KTR seems to be unhappy at the decision taken by Prime Minister Narendra Modi. He came out openly in a Teachers meeting stating that the cancellation of the old notes has caused loss to the State government. Stamps & Registration wing also failed to fetch income, he deplored.

The government is like a big family that used to get revenues and income from various departments and sources, KTR stated. He bemoaned that Prime Minister Narendra Modi created a panic through scrapping of the old notes and added to the woes of the people as well as the government. However, he hastened to add that the problem will be temporary and the situation of panic among people, who are queuing up at the banks for exchanging and drawing their money will not continue for a long time.

The decision against the old notes added to the woes of the State government. The government will implement more welfare schemes when it gets funds from various departments, the minister asserted. It is pertinent note here that KCR, a couple of days ago, met Governor ESL Narasimhan and reportedly expressed displeasure at the Modi government for cancelling the old notes for showing adverse affect on the State coffers.

In a related development, Union Minister Bandaru Dattatreya met Governor Narasimhan and denied KCR’s reported comments that Modi’s old notes decision will cause loss to the State government. At this crucial juncture, KTR also echoed similar voice of discontent at the Centre. It is being said that KCR may make it to national capital next week and will take up with the Centre a few State issues, including that of a ban on old notes.

At a teachers meeting, KTR promised to address the problems. KCR is aware of their issues and will resolve all the issues including health cards. The Teachers played a key role in statehood movement and the government will look into their woes, he said. (NSS)