Kishan Reddy exults over demonetisation 

Hyderabad: BJP floor leader in the Telangana Assembly G Kishan Reddy asserted that Centre’s decision to demonetise Rs 500 and Rs 1000 currency notes was meant for the welfare of people in the county. Participating in the debate on the demonetisation issue in the Assembly on Friday, Kishan Reddy claimed there was tremendous response from the people and they were wholeheartedly supporting Prime Minister Narendra Modi’s bold decision to check black money and corruption.

The BJP leader said there were several benefits from demonetisation which would not only increase revenue of the government, but also would help reduce prices. Loans on lesser interest would be available in banks and digital transactions would be increased. Though there were some problems that people were facing with the demonetisation, in long term, it would be beneficial to the country, he informed the Assembly.

Alleging that some people were spreading false information about the gold, he made it clear that the Centre would not touch the yellow metal and jewellery. Earlier, Chief Minister K Chandrashekar Rao said his government was supporting the demonetisation decision of the Union government.

Welcoming the fight against black money and corruption, Chandrashekar Rao said his government had written a letter to the Centre as well as RBI to take measures to minimize problems being faced by the people after demonetisation of big currency notes.