Andhra Pradesh Hyderabad

Note ban problems: Jagan urges Guv to intervene

Note ban problems: Jagan urges Guv to intervene

YSR Congress Party president Y S Jaganmohan Reddy today made a fervent appeal to Andhra Pradesh and Telangana Governor ESL Narasimhan to intervene and use his good offices to solve the problems of the common man in view of the demonetisation of high denomination currency notes.

Jagan, who led his party delegation to the Governor at Raj Bhavan on Tuesday, said the demonetization has been announced without proper preparations due to which the poor people are made to stand in long queues for days together to withdraw just two or four thousand rupees. Claiming that the country was heading towards the biggest ever man-made calamity, he said, it could take at least six months to replenish the complete currency. Jagan said this would hit the common man hard as India is a cash dependent economy with a cash/GDP ratio of 10.6 per cent. He said note crunch has caused unmitigated hardship to country’s workforce in the unorganized sector. He also said Chandrababu Naidu, who is a party to the demonetization, was not pressing the Centre for an immediate release of the required currency to Andhra Pradesh.

Party MLAs and senior leaders accompanied YSRCP chief. (NSS)