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No loss for State, says Yanamala
Minister for Finance Yanamala Ramakrishnudu said the Centre would get more tax revenue with demonetisation of Rs 500 and Rs 1,000
Amaravati: Minister for Finance Yanamala Ramakrishnudu said the Centre would get more tax revenue with demonetisation of Rs 500 and Rs 1,000 notes. Speaking to media persons at Interim Secretariat Complex here on Friday, he said that the State would not face any loss from currency ban. Reacting to a question over inconvenience to public for exchanging currency, he said that it was temporary.
“The Centre would get more tax incomes then the State would also get its share increased,” he said and added that Prime Minister Narendra Modi has taken great decision to control the black money in the country.
He recalled that Chief Minister N Chandrababu Naidu too has requested the Centre to ban the Rs 500 and Rs 1000 currency notes. He said that the common man would get benefit from this decision. “Everyone should welcome the decision, as black money could be controlled,” he hoped. He said that the hurdles for exchanging money would be solved in next two days.
