Extending full support to the Centre on its decision to demonetize big currency notes, Chief Minister K Chandrasekhar Rao made it clear that the State would fight against the Centre in case the post-demonetization situation remained unchanged even after 50 days as assured by Prime Minister Narendra Modi. KCR made it clear that he has no personal interest in extending support to the Centre on its decision of demonetization of big notes.
Replying to short discussion on ‘demonetization of high denomination currency notes and its impact on the State economy’ in the Legislative Assembly, the Chief Minister admitted that there was an impact on the State economy due to demonetization of big currency notes. “The impact is not that much on the State as expected by us. There was slight decrease in revenue land through registrations but there was no impact on the revenue comes through Excise department”, he said.
The Chief Minister said the revenue of the State and Centre will definitely increase if the country transforms into cashless economy. Every person, who has black money, has to pay taxes without fail if the cashless economy becomes a success. “We have to wait and see what will happen after 50 days”, he said reminding Bihar Chief Minister Nitish Kumar’s statement that he will question the Prime Minister after 50 days if the problems of the people continued in the same manner. He also said it was not proper to anyone to create fear psychosis among the people.
Making it clear that the State has to follow the development and have to transform the State as cashless transactions State, he said the State stood at top in cashless economy because the 6 percent transactions of total transaction in the State were already going on through cashless due to IT people. The demonetization of big notes issue belongs to the Centre, he said, adding that one has to welcome the decision if it changes the nation in a good way. The Centre has taken the decision and it will not go back on its decision and the States have to follow it whether the decision yields problems or troubles.
Stating that the Prime Minister has all the information about the troubles being faced by the people, KCR said the situation has changed and one has to adopt it as early as possible. Agreeing with the Opposition leaders that 100 percent cashless economy was not possible, KCR said urged the Prime Minister to strive for the total clean up and Modi assured that he will strive for it and demonetization of big currency notes was part of total clean up.
The Chief Minister said the Prime Minister also in a plan to curb political corruption and it was possible only with the cashless economy. KCR said, “I advised the Prime Minister to allocate State fund to the political leaders for the elections purpose. Prime Minister accepted my advise immediately”, he said. The nation needs 10 crore swipe machines and it was under the limits of banks, he said. He also said the people have deposited Rs 57,479 crore in the State and the State received Rs 19,109 crore of currency from the RBI.
The Chief Minister said the State government would conduct awareness programs after December 31 on cashless economy with the help of students. He urged the educated, intellectuals and others to extend their cooperation in this regard. The State government has to implement the cashless economy to see that the government not lose revenue. He said cashless economy was successful in Ibrahimpur village under Siddipet constituency. The government was striving to transform the Siddipet constituency into a cashless economy constituency, he said. The government will also take T-Wallet to the people as soon as possible. The State government was trying to see that the cashless transactions will be done in big way. (NSS)