KCR holds meet on impact of cash crunch

Chief Minister K Chandrasekhar Rao held a high-level meeting with all the secretaries on the impact of demonetisation on the State to continue his monitoring of the developments due to the demonetisation. 

Rao felt that small traders and people in unorganised sector should not be suffered due to the demonetisation.“The common man should be taken into consideration and they should be involved in the development process,” Rao said.The chief minister opined that the deposits of `2.5 lakh cash from small traders



as well as people working in  unorganised sector should not be considered as black money but unaccounted money.

The small and medium traders, businessmen and others in the unorganised sectors should be given certain exemptions, Rao opined. All of them should be given one more chance to disclose and deposit their accounts thereby granting them one time amnesty. The CM also stressed that the Centre should take into account how the States have incurred losses and less flow of revenues to their exchequers.