KCR To Meet Modi On 500, 1000 Notes Demonetization

Telangana Chief Minister K Chandrashekar Rao reportedly will leave for New Delhi on November 19 to meet with Prime Minister Narendra Modi and discuss the effect of banning Rs. 500 and Rs. 1,000 currency bills on the State.

As per reports, the Chief Minister of the State called up the Prime Minister and spoke briefly on the problems being faced by the common man and also the effect the move had on several departments in the State including revenue and transport; and sought his advice on the steps to be taken to prevent further losses.

Upon hearing Rao's plea, Modi invited him to New Delhi in order to discuss the issue in detail.

As per sources, KCR will take a team comprising of one representative from each department along with the documented details of the losses incurred by those departments. As per the CM, revenue, transport, excise, commercial taxes and sales taxes were the worst hit.

Speaking to the media, the TRS supremo said that it was not fair to see banks accounts of the poor and middle-class on the same footing as corporate tycoons with a potential cache of illegal wealth. He stressed the need to separate these two sections in order to avoid putting financial burden on the innocent.

However the CM also said that the move to demonetize the bills was a work of genius, and that TRS wouldn't oppose it. He said that his only concern was that the middle-class, the destitute and the small businessmen were suffering without being involved in hoarding black money.

He offered his support to the PM and said that the decision was necessary as unaccountable money was not stashed only in offshore accounts, but also in domestic accounts. He said that the TRS would support the Centre and also expects it to immunize the common man from the aftermath of the demonetization.

Other issues that reportedly will be raised during the meet include the Centre's promise of giving Rs. 450 crores towards input subsidy for farmers in Telangana.

If KCR supports the Modi, it would bolster the ties between the State and the Centre. Some political analysts view this as a move that could change political dynamics between the two Parties.