KCR praises Modi for demonetisation

​Hyderabad: Praising Prime Minister Narendra Modi for launching the demonetisation scheme to wipeout black money, Chief Minister K Chandrashekar Rao on Monday asserted that India needs to be promoted as ‘black money and corruption free’ country.

“Definitely, it is a well-thought out scheme. Big reforms are taking place in the country and it will take some time.

This move should not stop here, it should also tackle black money in the form of gold, foreign currency, money laundering, stocks and hawala transactions,” the Chief Minister said.

The tax-payers net would be expanded once the cashless transaction system is enforced in the country and central devolution to the state would also go up in proportionate to the increase of tax money.

Ultimately, there would be only two kinds of taxes – one is GST and the another one – BTT ( Bank Transaction Tax) in the country and also relieve people from income tax burden, he said. KCR also exhorted the Prime Minister to take radical steps towards cleansing the political system.

He said he would strongly support the payment of donations to the parties through e-cash system and the government should provide funding to all parties to arrest “vulgar” expenditure in the elections.

As people have access to TVs, promotion of e- campaign would help the parties, he added.