Take steps to eliminate all forms of black money: T'gana CM urges Centre

Telangana Chief Minister K Chandrasekhar Rao today urged the Centre to take steps to eliminate all forms of black money.

Hyderabad, Dec 16: Expressing strong support to demonetisation, Telangana Chief Minister K Chandrasekhar Rao today urged the Centre to move towards the "total clean up" of the system to eliminate all forms of black money, including those held in the form of diamonds, gold and shares.

"I once again appeal (to the Centre) you shall not stop here, you should go for total clean up...till poverty is reduced and everybody leads a dignified life," he said in the Legislative Assembly in his concluding remarks during a debate on demonetisation.

Rao, who made a statement marking the beginning of the debate on demonetisation, said his government whole-heartedly supports the demonetisation of Rs 500 and Rs 1,000 notes in the interest of the nation.

"The Government of Telangana also suggests that besides the currency notes, black money held in the form of diamonds, gold, shares and foreign currency and the black money generation through crony capitalism and flow of black money into the country through money laundering from British Virgin Islands, Mauritius, Singapore should be regulated effectively," the Chief Minister said.

"The Government of Telangana is of the firm belief that these efforts to eliminate black money should continue till the goal of complete transformation of the nation is realised," Rao added.

The Chief Minister said for realising the objective of eliminating the increase in black money, preventing the use of counterfeit currency, total elimination of political corruption, total cleansing of the political system, tackling terrorism and extremism and thereby building a corruption-free India, Prime Minister Narendra Modi announced on November 8 that Rs 500 and Rs 1,000 notes in circulation would no longer be legal tender.

PTI