Demonetisation to eradicate black money and corruption: K Chandrasekhar Rao

Telangana Chief Minister Chandrasekhar Rao has said, the endeavour of the Centre relating to the demonetisation should eventually lead to complete eradication of black money and corruption in the country. Addressing a press conference in Hyderabad last evening following a cabinet meeting, he welcomed the decision to demonetise high denomination notes.

He also emphasized the need for cleaning up the political system by state-funding of elections to root out corruption from political system. Telangana state cabinet also decided to promote e-payments in a big way and encourage people for cashless transactions. The state is coming up with TS-Wallet- an electronic system of payments to ease out difficulties of people due to demonetisation of high denomination notes.

sans-serif; font-size: 10pt;">The cabinet also decided to develop Siddipet Assembly constituency soon into a model cashless place. The Chief Minister also announced a series measures to contain the hardships of people due to demonetisation. He directed the Hyderabad local authorities to speed up construction of 2-bed room houses for the poor so that the construction workers can get work and increase the 5-rupees meal counters to three fold.

He asked the authorities to make all transactions possibly by cashless methods and open hassel-free zero balance accounts to all those who do not have till now. A 6-member official committee has been set up to suggest the government on cashless transactions. The State Government has also called a District Collectors meeting and state level Bankers Committee meeting in a couple of days to discuss about implementing cashless transactions.