Telangana Chief Minister K Chandrasekhar Rao today said in the Assembly that the state government welcomes the Centre’s recent decision of scrapping Rs 500 and Rs 1,000 currency notes.
In the debate in Assembly KCR said Demonetization will curb black money, terrorism, corruption and fake currency, adding it is good for nation building.
KCR stressed the need for total clean up of Black Money, He said, Centre should initiate more actions to eliminate all forms of black money like diamonds, gold, shares and foreign currency.
He said, The flow of black money into the country through money laundering from the British Virgin Islands, Mauritius, and Singapore.
Sidelining the hardships faced by people, He said, Telangana stands first in the country in terms of a number of cashless transactions.