Telangana Chief Minister K Chandrasekhar Rao on Friday urged the Prime Minister Narendra Modi to initiate many more steps towards the elimination of all forms of black money from the country.
Extending his support to the demonetisation of the big currency notes KCR told the State Assembly on the first day of the Winter session that if the purpose of the demonetisation was realised hundred percent the transformation of the country will be incredible.
Replying to the debate on demonetisation in the Assembly during which all the Opposition parties barring the BJP lashed out at the center in the manner in which the currency notes were declared invalid causing immense hardship to the people KCR hoped that the Center will follow up with more steps for a “total cleanup”. He expressed hope that the Prime Minister will also take the steps for cleaning up the politics and introduce the State funding of elections.
Rejecting the Opposition’s charge that the State Government was also responsible for the hardships faced by the people, KCR said that the State had no option but to follow the decisions taken by the Center. He admitted that the people were facing some hardships.
“Keeping in view the difficulties and inconvenience faced by the people following the implementation of this measure, the State Government is constantly holding discussions with the Central Government and the Reserve Bank of India (RBI). The State Government is also suggesting remedial measures from time-to-time”, he said.
“The Government of Telangana whole heartedly supports this measure taken in the interests of the nation. At the same time, the Government of Telangana is of the view that the Union Government should initiate many more steps towards elimination of all forms of black money”, KCR said.
He suggested that besides currency notes, black money held in the form of diamonds, gold, shares and foreign currency and the black money generation through crony capitalism and flow of black money into the country through money laundering from British Virgin Islands, Mauritius, Singapore should be regulated effectively. “The Government of Telangana is of the firm belief that these efforts to eliminate black money should continue till the goal of complete transformation of the nation is realised”, he added.
In context of his efforts to alleviate the sufferings of the people on account of demonetisation, KCR referred to his meeting with PM on November 19. The State Chief Secretary also wrote two letters to the RBI requesting supply of about Rs 5000 crore in small currency denominations.
“In response, the officials of the Reserve Bank of India have indicated to the Chief Secretary on 15th December that cash for meeting requirements of the people of the State will be supplied”, he said.
The RBI has so far supplied Rs 19,109 crore cash to Telangana and the people in the state have deposited Rs 57479 crore in their bank accounts.
KCR assured the House that the government was closely monitoring the situation. At the same time his listed various initiatives to encouraging the cashless transactions in the state.
“On a pilot basis, the State Government is making all out efforts to make Siddipet Assembly Constituency cashless. Already, Ibrahimpur village of this constituency has been converted into a cashless village”, he said.
The State Government will shortly launch TS Wallet in a manner which will provide confidence to people in cashless transactions, he added.