Monday , August 21 2017
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Revanth faults KCR ‘note ban’ statement

Telangana TDP leader A Revanth Reddy is at it again and he tried to target Chief Minister K Chandrasekhar Rao over demonetization issue that gave room for argument among politicos on the crucial issue which is unready to die down.

Participating in a short discussion on demonetization and steps to tide over its impact began by Chief Minister K Chandrasekhar Rao, Revanth Reddy found fault with the statement for stating “note ban” decision by the Centre will affect State finances for the first three months. The Centre, he said, did not ban the notes and only replaced high value notes of Rs 500 and Rs 1000 denomination with new ones, he pointed out.

The TDP leaders tried to convince the House that the Centre has taken a decision against the old notes and was making efforts to replace them, Revanth said. He said since cashless transactions was not that easy, the government should provide swiping machines free of cost to villages as small businessmen cannot afford to spend Rs 10,000 for each machine.

TDP supremo and Andhra Pradesh Chief Minister N Chandrababu Naidu wrote a letter to the Centre to scrap high value old notes, he said. He condemned the comments that Naidu changed tack on the issue and the TD was stuck to it. As the money problem reached its peak as people were grappling for drawing their money, it is imperative to take immediate steps to pump in adequate money into open market and enable the banks and ATMs to disburse the amounts, he added.

As per an estimate, the State has only 78,000 swiping machines as against the requirement of 10 lakh swiping machines. Since use of internet, cashless transactions is highly impossible and swiping machines cannot be used in villages besides ATMs gone dry without cash the government should focus on to resolve the issue he said.  (NSS)