PM Modi Should Phase Out Rs 2,000 Notes – Andhra CM Chandrababu Naidu

AP CM N Chandrababu Naidu, who was chairman of the Prime Minister’s committee on demonetization, has told at press report that time has come to totally phase out Rs 2,000 notes.

At one media Interview, AP CM Chandrababu Naidu quoted like this “See any reform will take time to show results. I have always maintained that higher denomination notes will naturally create some problem and will also begin certain corrupt practices. That is up to my firm beliefs as per mine knowledge. Just like that in this political spectrum, that currency which is in us is bound to create some problems. In fact, the digital currency needs to be made cost effective so that transformation will be easier.”

When asked if it was your government’s mistake to introduce Rs 2000 notes during demonetization drive, Mr. Chandrababu Naidu said, “At that time, we needed Rs 2000 note since a large value of the currency was being removed from the system. The printers could not have kept pace had we not introduced Rs 2000 note. But it needs to be phased out now,” he said.

Mr. Chandra Babu Naidu, who was also a big exponent of the Goods and Services Tax, admitted that that new system was facing teething problems. On Tuesday, he met Finance Minister Arun Jaitley to discuss the same. 

“I already discussed with him there are some basic issues which we need to sort out. In Andhra Pradesh, even the TTD is coming under GST. We need to exempt these. There are other sectors too which need to be exempted,” AP CM Concluded. 


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