There appears to be more to Andhra Pradesh Chief Minister N Chandrababu Naidu’s demand for demonetisation of currency notes of Rs 500 and Rs 1,000 denominations.
Naidu has demanded that the Centre immediately abolish big currency notes to curb proliferation of parallel economy through black money.
He expressed regrets that the country was suffering from black money menace, which was evident from the way Rs 65,000 crore illegal money was disclosed across the country under the income declaration scheme.
Why is Naidu so disgusted with Rs 500 and Rs 1,000 denominations? Well, according to YSR Congress party leaders, Naidu was disturbed after his party MLA A Revanth Reddy was caught red-handed while offering bribe to nominated Anglo Indian MLA to buy his vote in the MLC elections last year.
“All the money was in these two denominations. Perhaps, that is the reason why Naidu is so disturbed about Rs 500 and Rs 1,000 notes,” YSRC leader B Rajendranath Reddy said.
