Naidu suggests ban on Rs 1,000 notes

Hyderabad, June 24 : In a first-of-its-kind move, the Andhra Pradesh Legislative Assembly on Tuesday adopted a unanimous resolution asking the Central Government to free India from corruption and end the menace of black money.

Moving the resolution in the House, Chief Minister Nara Chandrababu Naidu said that if required, the Centre should ban currency notes of Rs 1,000 and Rs 500 denominations to force those hiding crores of rupees of black money to empty their personal exchequers. He said that the US has already banned higher denomination currency.

The Chief Minister welcomed the initiative taken by Prime Minister Narendra Modi in bringing back black money stashed in foreign banks. He said constitution of Special Investigation Team on black money and seeking details of Swiss Account holders was a decisive action by the Centre. He also requested the Centre to introduce economic, political and administrative reforms to curb corruption at the grass root levels.

Naidu accused the Congress-led UPA Government of indulging in large scale corruption across the country. He said even Anna Hazare’s movement failed to keep the UPA Government away from corrupt practices. He said eradication of corruption was the key to end poverty and unemployment from the country.

Leader of Opposition Y S Jaganmohan Reddy also welcomed the resolution and said stringent measures should be taken to eradicate corruption from the country.   INN