Common man, not tax evaders, suffering: Etela Rajender
Posted November 25th, 2016, 11:12 AM IST
Hyderabad: The TS government has expressed displeasure over RBI’s failure to ensure adequate availability of cash in the state 15 days after demonetisation announcement, which has been causing severe hardships to one and all.
Speaking at the State-Level Bankers' Committee meeting here, finance minister Etela Rajender said that currency worth Rs 80,000 crore was in circulation in TS prior to demonetisation, but the RBI could supply just Rs 11,000 crore after demonetisation leading to huge currency shortage.
He said that meagre supplies comprised of new Rs 2,000 notes that served no purpose due to shortage of change. Mr Rajender said that the demonetisation was causing more problems to the common man than tax evaders.
The minister urged the Centre to withdraw the Rs 2000 notes and supply Rs 100 and Rs 500 notes instead, which will be more useful for the people. He also sought immediate supply of currency worth Rs 5,000 crore to the state.
Speaking at the State-Level Bankers' Committee meeting here, finance minister Etela Rajender said that currency worth Rs 80,000 crore was in circulation in TS prior to demonetisation, but the RBI could supply just Rs 11,000 crore after demonetisation leading to huge currency shortage.
He said that meagre supplies comprised of new Rs 2,000 notes that served no purpose due to shortage of change. Mr Rajender said that the demonetisation was causing more problems to the common man than tax evaders.
The minister urged the Centre to withdraw the Rs 2000 notes and supply Rs 100 and Rs 500 notes instead, which will be more useful for the people. He also sought immediate supply of currency worth Rs 5,000 crore to the state.
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