Andhra Pradesh Chief Minister N Chandrababu Naidu hailed the central government decision to ban currency notes of Rs 500 and Rs 1,000. The CM called it a “bold step” to eradicate corruption and mentioned that Telugu Desam Party (TDP) had been in favour of a ban on high-value currency notes.
“I welcome the Narendra Modi government’s historic decision to ban Rs 500 and Rs 1,000 notes. This is a bold step towards eliminating corruption,” financial portal Moneycontrol quoted Naidu.
Welcoming the step, Naidu said that it would change the face of Indian economy.
He further added that it was also a major step forward towards wiping out black money and recalled that his party-TDP-had been favoring to put a ban on high-value currency notes.
However, the CM, who wrote a letter to the PM Narendra Modi last month seeking demonetisation of Rs 500 and Rs 1,000 notes seemed skeptical on the introduction of Rs 2,000 notes. While the secretary of the Department of Economic Affairs Shaktikanta Das unveiled currency notes of Rs 2,000 and announced to issue it soon, Naidu said, “The Centre needs to reassess the steps and tread with caution before introducing new denominations,”