Chief Minister N Chandrababu Naidu suggested retaining only Rs 100 and Rs 200 notes to combat corruption.
Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday urged the central government to withdraw high-value currency notes, including the Rs 500, Rs 1,000, and Rs 2,000 denominations. According to reports from Mint, Economic Times, and Deccan Herald, Naidu wants only Rs 100 and Rs 200 notes to remain in circulation.
Speaking at a press conference in Amaravati, the Telugu Desam Party (TDP) leader said he would continue to advocate for this change. He stated that he had previously provided recommendations regarding digital currency in a report submitted to Prime Minister Narendra Modi.
Naidu argued that limiting large cash denominations and encouraging digital transactions could help reduce corruption. He remarked, "If technology is perfect, wealth creation and poverty alleviation are not difficult."
The Chief Minister's comments arrived as the country marked the 10th anniversary of demonetisation. During that 2016 move, the government withdrew the legal tender status of Rs 500 and Rs 1,000 notes to target black money and counterfeit currency.
Opposition leaders have criticised the original demonetisation move. Congress general secretary Jairam Ramesh described the 2016 decision as having devastated the economy, while Shiv Sena (UBT) leader Aaditya Thackeray questioned whether the stated objectives of the move had been achieved after a decade.
