Telangana Finance Minister E Rajender today opined that the Centre's move to demonetize the two currency bills was aimed at disseminating national wealth among all sections of the Society.
The Minister was addressing a meeting - cash ban: consumers problems and their solutions - held to mark the national consumers day at the Secretariat. Speaking on the occasion, Rajender expressed concerns that 70 years of Independence had failed to implement the spirit of the Constitution, and the poor were becoming poorer while the rich were getting richer.
Only a small segment of the society held all wealth while the larger chunk was suffering, he pointed out.
Prime Minister Narendra Modi's note ban would address the problem, and the TRS government urged him to ensure that the common man was not put through any further hardships.
Chief Minister K Chandrashekar Rao had met Mr. Modi and made suggestions on how to overcome the cash crunch, he recalled.
Though the cash ban resulted in several problems to the common man and small business, it would yield better results in the long run, he expressed hope.