PaperDabba News Desk – Andhra Pradesh Chief Minister Nara Chandrababu Naidu has once again made sensational comments regarding demonetization. Previously, he has stated on several occasions that he was the one who suggested the demonetization of large currency notes to Prime Minister Modi. Recently, he reiterated his stance on demonetization.
Chandrababu Naidu’s Bold Suggestion
During a press release on the power sector at the Secretariat in Amaravati, Chandrababu Naidu proposed the idea of banning Rs. 500 and Rs. 200 currency notes. He emphasized that even though the Rs. 2000 and Rs. 1000 notes are no longer in circulation, there is still a need to move towards a more digital economy by eliminating smaller denominations as well.
Fighting Corruption
Naidu highlighted that some individuals have amassed wealth over the past five years with an aim to buy the system. To curb such corruption, he suggested that the Rs. 500 and Rs. 200 notes should also be demonetized and digital currency should be promoted. He mentioned that they have discussed this idea with bankers and encouraged them to support the initiative.
Challenges and Criticism
Despite the bold nature of his suggestion, Naidu acknowledged the challenges and criticisms that come with such a drastic measure. He stressed that there is no need to fear political intimidation. Criminals and corrupt individuals will not be able to escape justice, and the previous government’s administration has destroyed many systems.
In conclusion, Chandrababu Naidu’s call for banning Rs. 500 and Rs. 200 notes underscores his commitment to fight corruption and promote a digital economy. While the proposal is radical, it aims to create a more transparent and accountable financial system.
