Chandrababu now terms note ban 'opportunity'

Chandrababu Naidu today termed the problems resulting from the demonetisation exercise as an "opportunity" for people to usher in a new economic regime.

Amaravati, Dec 1: Two days after dubbing the ongoing currency crisis a "national calamity", Andhra Pradesh Chief Minister Chandrababu Naidu today termed the problems resulting from the demonetisation exercise as an "opportunity" for people to usher in a new economic regime.

"This is not a crisis but an opportunity to improve our efficiency. This (demonetisation) is a historic economic reform, a new change in the country's history. We have to get used to it," Chandrababu told state government officials, District Collectors, bankers, FPS dealers and others via teleconference.

The change in tone came after Chandrababu, who was critical of the move in the last three weeks, was appointed by the Centre as the convenor of a 13-member committee to look into all issues related to demonetisation.

"Everyone should realise that the current troubles are only temporary and for long-term gains, we have to efficiently face them. My wish is that the current troubles should end with 2016 and 2017 should herald a new beginning," the Chief Minister said.

Chandrababu had on Tuesday termed the post-demonetisation crisis as a "national calamity" and pulled up bankers for failing to effectively address the situation and solve problems of people.

His outburst had led protests from the bankers who demanded that he withdraw his remarks. He apparently mellowed down yesterday and said he was interfering in the banking affairs only to relieve people of their troubles.

"We all should work collectively. After all we are here only to serve people," he had said.

PTI