Andhra Pradesh chief minister Chandrababu Naidu on Wednesday claimed that out of the Rs 13,000 crore of black money declared in Hyderabad under a recent scheme, Rs 10,000 crore belonged to a single individual, in apparent hints towards his political rivals.
He also demanded immediate abolition of currency notes of Rs 1,000 and Rs 500 denominations to curb black money. “Out of the Rs 65,000 crore disclosed across the country, Rs 13,000 crore was declared in Hyderabad and, out of it, Rs 10,000 crore by a single individual. Who is that, we can’t know as per law. Is it possible for a businessman to declare such huge money,” he told a press conference in his new office at Velagapudi.
“In the future, in 2-3 or 5 years, they will again regularise black money, depending on their need. You just pay 40-45 per cent penalty and the rest becomes white. Isn’t that better? Nobody can question. Now, there will no social stigma as well,” Chandrababu said.
Noting that politics has become a “shelter” for corrupt people and black money earners, he said, “Some people who are in politics are misusing the people’s mandate. I am writing a letter to the Prime Minister today asking that Rs 1,000 and Rs 500 notes be abolished and total bank transactions be encouraged.”
CONTINUE READING ON THE NEXT PAGE… SCROLL DOWN