Hyderabad: The Telangana Congress leaders on Wednesday speaking on Demonetization exercise imposed by PM last year said the state is yet to recover from the shock.
Marking 8 Nov. as ‘black day’ and speaking on the event organized by the Hyderabad City Congress, TPCC president N. Uttam Kumar Reddy said all sections of society were badly hit due to the note ban.
The event was also attended by former Union minister S. Jaipal Reddy, former MP M. Anjan Kumar Yadav, CLP leader K. Jana Reddy, Leader of Opposition in Council Shabbir Ali, AICC secretary V. Hanumantha Rao, former PCC president Ponnala Lakshmaiah, former minister Danam Nagender who spoke at the event.
He said: “The Prime Minister cheated the common people by stating that things would be normal after 50 days. Chief Minister K. Chandrasekhar Rao blindly supported the move without even studying the possible implications of the decision.”
He said KCR’s “blind love” for PM Modi had created havoc throughout the state affecting all sections which included farmers, traders, daily wage earners and even the monthly earners. He added that thousands of industries were shut down due to the move and people lost lakhs of jobs in the process.
He said none of the affected sections have recovered so far after the demonetization.
He has demanded a detailed statement of the overall impact of the exercise move on public and private sectors from the TRS Government.
He said: “Wrong economic policies of the TRS government, coupled with demonetization, has pushed the state into a deep financial crisis. Telangana state’s debt has increased to Rs 1,35,554 crore and the interest impact on the exchequer during the financial year 2016-17 was Rs 8,609.19 crore.”
AICC TS incharge R.C. Kunthia says PM Modis claims of black money in the society was proved wrong since 99 percent of demonetised currency notes had been returned to the RBI.