Andhra Pradesh chief minister Chandrababu Naidu, who wrote a fresh letter to the Prime Minister last month seeking abolition of Rs 500 and Rs 1,000 currency notes, observed that the re-introduction of Rs 500 notes and the introduction of Rs 2,000 notes needed elaborate discussions and alternatives should be looked into. Photo: Hindustan Times
Andhra Pradesh chief minister Chandrababu Naidu, who wrote a fresh letter to the Prime Minister last month seeking abolition of Rs 500 and Rs 1,000 currency notes, observed that the re-introduction of Rs 500 notes and the introduction of Rs 2,000 notes needed elaborate discussions and alternatives should be looked into. Photo: Hindustan Times

Chandrababu Naidu hails scrapping of 1,000, 500 currency notes

Andhra Pradesh chief minister says ban on currency notes of 500 and 1,000 values major step forward towards wiping out black money

Vijayawada: Andhra Pradesh chief minister N. Chandrababu Naidu tonight welcomed the centre’s decision to ban currency notes of 500 and 1,000 values but expressed reservations over the move to introduce a bill of 2,000 denomination.

“I welcome the Narendra Modi government’s historic decision to ban 500 and 1,000 notes. This is a bold step towards eliminating corruption," he said.

It was also a major step forward towards wiping out black money, he said. Complimenting the prime minister over the announcement, Chandrababu recalled that the Telugu Desam Party had been at the forefront in pushing for a ban on high-value currency notes.

This ban would change the face of Indian economy, he remarked.

The chief minister, who wrote a fresh letter to the Prime Minister last month seeking abolition of 500 and 1,000 currency notes, observed that the re-introduction of 500 notes and the introduction of 2,000 notes needed elaborate discussions and alternatives should be looked into.

“The centre needs to reassess the steps and tread with caution before introducing new denominations," Chandrababu added.

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