During the TDP meeting in YSR Kadapa district, Chandrababu Naidu appealed to Prime Minister Modi to demonetize Rs 500 and Rs 2000 notes. He said digital currency will curb black money and control corruption.
Demonetization News: At the yearly Mahanadu gathering of the Telugu Desam Party (TDP) held in YSR Kadapa district of Andhra Pradesh, party leader Chandrababu Naidu emphasized the necessity for the complete adoption of digital currency nationwide. He urged Prime Minister Narendra Modi to entirely remove Rs 500 and Rs 2,000 banknotes from circulation.
Naidu stated that high denomination currency notes facilitate the concealment of black money. He suggested that encouraging digital payments in the nation would simplify transaction monitoring, thereby aiding in the efficient management of tax evasion and corruption.
'Need for transparency in electoral funding'
Chandrababu Naidu mentioned that digitalizing all political donations could reduce cash transactions and fraudulent funding. This approach would enhance cleanliness and transparency in the nation's politics. He stated that TDP consistently supports honest and transparent political practices.
'I've made suggestions before'
Naidu remembered advising the Prime Minister during the demonetisation period that Rs 500, Rs 1,000, and Rs 2,000 notes should be withdrawn. While Rs 1,000 notes were indeed phased out then, new versions of Rs 500 and Rs 2,000 notes were introduced.
'Emphasis on digital payments'
Chandrababu Naidu asserts that as the world swiftly transitions to digital currency, India must also make significant strides in this area. By taking a firm decision now, the aspiration of transforming India into the most transparent economy globally can be achieved.